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NEW YORK, Could 4 (Reuters) – Morgan Stanley (MS.N) disclosed in a filing on Wednesday that it is responding to “requests for information from regulators concerning its compliance with report-maintaining demands.”
The ask for is associated to company communications on messaging platforms that were not accepted by the business, the lender reported in a regulatory filing.
Reuters documented last Oct that the U.S. Securities and Exchange Fee (SEC) was looking in to how Wall Street financial institutions kept observe of employees’ get the job done-associated electronic communications, this sort of as text messages and email messages. read much more
Morgan Stanley also claimed on Wednesday that it could confront civil liabilities from claims filed by block trade transaction individuals or other men and women “who contend they were being harmed … as a consequence of a share price tag decrease allegedly prompted by the actions of the Company and/or its staff.”
In February, Morgan Stanley disclosed that U.S. regulators and prosecutors were probing different facets of its expenditure bank’s block trading company. That disclosure followed experiences that the U.S. Securities and Trade Commission (SEC) was investigating no matter if economical executives experienced broken principles by tipping off hedge money in advance of big product sales of shares, recognised as “block trades”. go through a lot more
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Reporting by Elizabeth Dilts Marshall in New York
Modifying by Chris Reese and Matthew Lewis
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