Morgan Stanley discloses regulators’ request for business communications records
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NEW YORK, May 4 (Reuters) – Morgan Stanley (MS.N) disclosed in a submitting on Wednesday that it is responding to “requests for information and facts from regulators concerning its compliance with document-preserving necessities.”
The request is relevant to business communications on messaging platforms that had been not permitted by the company, the financial institution claimed in a regulatory submitting.
Reuters noted previous October that the U.S. Securities and Trade Commission (SEC) was seeking in to how Wall Street banks kept observe of employees’ get the job done-relevant digital communications, these types of as textual content messages and e-mails. read through much more
Morgan Stanley also reported on Wednesday that it might experience civil liabilities from claims filed by block trade transaction contributors or other persons “who contend they ended up harmed … as a end result of a share rate decline allegedly triggered by the activities of the Firm and/or its workforce.”
In February, Morgan Stanley disclosed that U.S. regulators and prosecutors have been probing a variety of aspects of its investment bank’s block trading small business. That disclosure followed stories that the U.S. Securities and Exchange Fee (SEC) was investigating regardless of whether fiscal executives experienced damaged guidelines by tipping off hedge cash in advance of substantial income of shares, recognized as “block trades”. study much more
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Reporting by Elizabeth Dilts Marshall in New York
Editing by Chris Reese and Matthew Lewis
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