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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 data from regulators concerning its compliance with document-preserving requirements.”
The ask for is linked to organization communications on messaging platforms that were not authorized by the agency, the bank said in a regulatory filing.
Reuters documented last October that the U.S. Securities and Exchange Commission (SEC) was on the lookout in to how Wall Road banking companies kept monitor of employees’ get the job done-connected digital communications, this kind of as textual content messages and e-mails. browse more
Morgan Stanley also mentioned on Wednesday that it may well deal with civil liabilities from promises submitted by block trade transaction individuals or other persons “who contend they ended up harmed … as a consequence of a share price tag decrease allegedly brought about by the routines of the Company and/or its personnel.”
In February, Morgan Stanley disclosed that U.S. regulators and prosecutors were being probing several aspects of its expenditure bank’s block trading small business. That disclosure followed studies that the U.S. Securities and Trade Fee (SEC) was investigating no matter whether financial executives experienced broken regulations by tipping off hedge money forward of huge sales of shares, identified 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
Our Requirements: The Thomson Reuters Trust Concepts.