简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Abstract:Morgan Stanley has appointed an internal lawyer to shadow a unit of the bank subject to a federal probe into block trading, the Financial Times reported on Tuesday, citing people briefed on the arrangement.
In February, the Wall Street bank said that U.S. regulators and prosecutors were probing L4N2UZ6Z5 various aspects of its block trading business.
The banks disclosure in February followed reports that the U.S. Securities and Exchange Commission (SEC) was investigating whether financial executives had broken rules by tipping off hedge funds ahead of large sales of shares, known as “block trades”.
The decision to install the lawyer on the desk was made after the firm placed Pawan Passi, head of the U.S. equity syndicate desk, on leave last year, the FT reported.
The bank last week placed a second member of the equity syndicate desk, Charles Leisure, on leave, the report added, citing people familiar with the matter.
Morgan Stanley did not immediately respond to a Reuters request for comment.
The bank‘s role in the collapse of Archegos Capital Management has deepened a probe by U.S. authorities into Wall Street’s lucrative market for block trades.
The investment bank lost nearly $1 billion last year when Bill Hwangs Archegos failed to meet margin calls, forcing several investment banks including Morgan Stanley to attempt recouping losses by liquidating shares and assets.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
2 Days Left!
The Italian regulator, CONSOB has issued a warning against five websites offering unauthorized financial services. This regulatory action aims to protect the public from fraudulent activities.
3 Days Left!
A recent allegation against STP Trading has cast doubt on the firm's business practices, highlighting the potential risks faced by retail traders in an increasingly crowded and competitive market.