Morgan Stanley Fined $22 Million for Rigging Bond Markets
Gaspard Sebag, Stephanie Bodoni
Bloomberg, 10 December 2019
Morgan Stanley was fined 20 million euros ($22.1 million) by French regulators after the bank’s London desk was accused of using “pump and dump” tactics to manipulate sovereign bond prices.
The Autorite des Marches Financier’s enforcement committee said that the bank manipulated the prices of 14 French government bonds and 8 Belgian bonds in June 2015. The lender also manipulated the price of a French government bond futures contract, the AMF said in a statement Tuesday.
