Article: Brazil watchdog fines Morgan Stanley, Royal Bank of Canada for forex manipulation

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Brazil watchdog fines Morgan Stanley, Royal Bank of Canada for forex manipulation

Bruno Federowski, Richard Chang

Reuters, 13 June 2018

Brazil’s antitrust watchdog on Wednesday fined Morgan Stanley (MS.N) and Royal Bank of Canada (RY.TO) a total of 42.9 million reais ($11.6 million) for meddling with foreign exchange rates charged to clients.

The board of regulator Cade unanimously approved a proposal to fine Morgan Stanley 30.280 million reais and RBC 12.586 million reais.

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