Sign up now for Free unlimited obtain to Reuters.com
NEW YORK, Could 4 (Reuters) – Morgan Stanley (MS.N) disclosed in a submitting on Wednesday that it is responding to “requests for info from regulators concerning its compliance with record-holding prerequisites.”
The ask for is linked to business communications on messaging platforms that ended up not accepted by the agency, the lender mentioned in a regulatory filing.
Reuters described past October that the U.S. Securities and Exchange Fee (SEC) was hunting in to how Wall Avenue banks stored observe of employees’ do the job-associated digital communications, these types of as text messages and e-mails. examine more
Morgan Stanley also mentioned on Wednesday that it could face civil liabilities from claims filed by block trade transaction individuals or other individuals “who contend they were harmed … as a result of a share price decline allegedly brought on by the functions of the Agency and/or its staff.”
In February, Morgan Stanley disclosed that U.S. regulators and prosecutors ended up probing several factors of its financial commitment bank’s block buying and selling business. That disclosure adopted experiences that the U.S. Securities and Trade Fee (SEC) was investigating whether economic executives had broken principles by tipping off hedge funds in advance of substantial sales of shares, identified as “block trades”. examine additional
Sign-up now for Free unlimited access to Reuters.com
Reporting by Elizabeth Dilts Marshall in New York
Editing by Chris Reese and Matthew Lewis
Our Benchmarks: The Thomson Reuters Have faith in Concepts.