NEW YORK (Reuters) -Morgan Stanley disclosed in a filing on Wednesday that it is responding to “requests for info from regulators about its compliance with history-retaining requirements.”
The request is relevant to enterprise communications on messaging platforms that were not authorized by the agency, the lender stated in a regulatory submitting.
Reuters claimed last October that the U.S. Securities and Trade Fee (SEC) was on the lookout in to how Wall Avenue banks retained observe of employees’ work-associated digital communications, such as text messages and e-mail.
Morgan Stanley also mentioned on Wednesday that it may perhaps confront civil liabilities from statements submitted by block trade transaction individuals or other people today “who contend they have been harmed … as a final result of a share value decrease allegedly brought about by the things to do of the Firm and/or its staff members.”
In February, Morgan Stanley disclosed that U.S. regulators and prosecutors ended up probing numerous facets of its financial commitment bank’s block investing company. That disclosure followed experiences that the U.S. Securities and Trade Commission (SEC) was investigating no matter whether money executives had broken policies by tipping off hedge money ahead of big revenue of shares, acknowledged as “block trades”.
(Reporting by Elizabeth Dilts Marshall in New YorkEditing by Chris Reese and Matthew Lewis)
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