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NEW YORK, May perhaps 4 (Reuters) – Morgan Stanley (MS.N) disclosed in a submitting on Wednesday that it is responding to “requests for information and facts from regulators relating to its compliance with history-trying to keep prerequisites.”
The request is related to company communications on messaging platforms that were not permitted by the company, the bank mentioned in a regulatory submitting.
Reuters noted last Oct that the U.S. Securities and Trade Commission (SEC) was searching in to how Wall Avenue banking companies held monitor of employees’ operate-associated electronic communications, this kind of as text messages and email messages. browse extra
Morgan Stanley also explained on Wednesday that it may possibly experience civil liabilities from statements filed by block trade transaction members or other folks “who contend they have been harmed … as a outcome of a share cost decline allegedly induced by the functions of the Company and/or its personnel.”
In February, Morgan Stanley disclosed that U.S. regulators and prosecutors were being probing numerous features of its financial investment bank’s block trading enterprise. That disclosure adopted reviews that the U.S. Securities and Trade Commission (SEC) was investigating whether fiscal executives experienced damaged policies by tipping off hedge resources in advance of big product sales of shares, recognized as “block trades”. study much more
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Reporting by Elizabeth Dilts Marshall in New York
Enhancing by Chris Reese and Matthew Lewis
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