Morgan Stanley discloses regulators’ request for business communications records

The logo for Morgan Stanley is seen on the investing floor at the New York Inventory Trade (NYSE) in Manhattan, New York Town, U.S., August 3, 2021. REUTERS/Andrew Kelly

NEW YORK, May perhaps 4 (Reuters) – Morgan Stanley (MS.N) disclosed in a filing on Wednesday that it is responding to “requests for facts from regulators relating to its compliance with history-holding requirements.”

The request is associated to business communications on messaging platforms that have been not accepted by the organization, the lender mentioned in a regulatory filing.

Reuters noted previous October that the U.S. Securities and Exchange Fee (SEC) was seeking in to how Wall Road banking companies kept keep track of of employees’ perform-associated digital communications, these types of as textual content messages and e-mails. study much more

Morgan Stanley also stated on Wednesday that it may perhaps face civil liabilities from statements submitted by block trade transaction individuals or other folks “who contend they have been harmed … as a result of a share cost decline allegedly prompted by the functions of the Company and/or its workforce.”

In February, Morgan Stanley disclosed that U.S. regulators and prosecutors were being probing numerous features of its expenditure bank’s block investing company. That disclosure adopted reports that the U.S. Securities and Exchange Commission (SEC) was investigating regardless of whether economical executives had damaged guidelines by tipping off hedge resources forward of substantial revenue of shares, recognised as “block trades”. go through a lot more

Reporting by Elizabeth Dilts Marshall in New York
Editing by Chris Reese and Matthew Lewis

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