NEW YORK (Reuters) -Morgan Stanley disclosed in a filing on Wednesday that it is responding to “requests for information from regulators regarding its compliance with record-retaining requirements.”
The ask for is connected to enterprise communications on messaging platforms that were being not authorized by the firm, the financial institution reported in a regulatory filing.
Reuters described final Oct that the U.S. Securities and Trade Commission (SEC) was looking in to how Wall Road banks held keep track of of employees’ operate-connected digital communications, such as text messages and e-mail.
Morgan Stanley also said on Wednesday that it might facial area civil liabilities from promises submitted by block trade transaction participants or other folks “who contend they had been harmed … as a result of a share value decrease allegedly triggered by the things to do of the Organization and/or its workforce.”
In February, Morgan Stanley disclosed that U.S. regulators and prosecutors were probing several areas of its investment decision bank’s block buying and selling small business. That disclosure adopted studies that the U.S. Securities and Trade Fee (SEC) was investigating whether or not economical executives had damaged rules by tipping off hedge resources forward of substantial sales of shares, regarded as “block trades”.
(Reporting by Elizabeth Dilts Marshall in New YorkEditing by Chris Reese and Matthew Lewis)
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