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NEW YORK, May possibly 4 (Reuters) – Morgan Stanley (MS.N) disclosed in a submitting on Wednesday that it is responding to “requests for information from regulators relating to its compliance with record-retaining specifications.”
The ask for is similar to business enterprise communications on messaging platforms that have been not accredited by the agency, the financial institution mentioned in a regulatory submitting.
Reuters noted final October that the U.S. Securities and Exchange Fee (SEC) was wanting in to how Wall Road banking institutions retained track of employees’ perform-relevant electronic communications, this kind of as text messages and email messages. read through additional
Morgan Stanley also claimed on Wednesday that it may perhaps deal with civil liabilities from promises submitted by block trade transaction participants or other men and women “who contend they had been harmed … as a final result of a share price tag drop allegedly brought about by the actions of the Business and/or its staff members.”
In February, Morgan Stanley disclosed that U.S. regulators and prosecutors have been probing many facets of its financial commitment bank’s block investing enterprise. That disclosure adopted experiences that the U.S. Securities and Trade Fee (SEC) was investigating no matter whether financial executives had damaged procedures by tipping off hedge funds ahead of massive profits of shares, acknowledged as “block trades”. examine far more
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Reporting by Elizabeth Dilts Marshall in New York
Editing by Chris Reese and Matthew Lewis
Our Criteria: The Thomson Reuters Trust Ideas.