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NEW YORK, Could 4 (Reuters) – Morgan Stanley (MS.N) disclosed in a submitting on Wednesday that it is responding to “requests for information from regulators about its compliance with document-keeping requirements.”
The ask for is linked to business enterprise communications on messaging platforms that had been not accredited by the company, the bank said in a regulatory filing.
Reuters described past Oct that the U.S. Securities and Exchange Fee (SEC) was hunting in to how Wall Street financial institutions stored monitor of employees’ work-associated electronic communications, these kinds of as textual content messages and e-mail. go through far more
Morgan Stanley also mentioned on Wednesday that it might facial area civil liabilities from claims filed by block trade transaction members or other men and women “who contend they were harmed … as a end result of a share value decline allegedly brought about by the things to do of the Agency and/or its employees.”
In February, Morgan Stanley disclosed that U.S. regulators and prosecutors were being probing many aspects of its investment decision bank’s block investing enterprise. That disclosure adopted reports that the U.S. Securities and Exchange Commission (SEC) was investigating whether money executives had damaged regulations by tipping off hedge resources ahead of huge product sales of shares, identified as “block trades”. examine much more
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Reporting by Elizabeth Dilts Marshall in New York
Modifying by Chris Reese and Matthew Lewis
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