France suspends Morgan Stanley as bond dealer | Malay Mail

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PARIS, Aug 4 — Regulators in France have suspended US investment bank Morgan Stanley from acting as a primary dealer in French government bonds for at least three months after it was found to have manipulated prices. As a recognised official trader, Morgan Stanley was allowed to take part in...

The logo of Morgan Stanley at an office building in Zurich September 22, 2016. — Reuters pic

As a recognised official trader, Morgan Stanley was allowed to take part in sales of French government debt managed by the state agency AFT, which imposed the sanction. In December, france’s financial markets regulator fined Morgan Stanley 20 million euros over market manipulation at the height of the Greek debt crisis.

It said the bank bought up massive amounts of futures contracts for French and German bonds on June 16, 2015 in just 15 minutes as part of the plan.

 

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