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Markets

France fines Morgan Stanley $22mn for manipulating sovereign bonds

The fine relates to manipulations of French and Belgian bonds prices in June 2015.  Morgan Stanley said it int
Published December 10, 2019 Updated December 10, 2019 12:28pm
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  • The fine relates to manipulations of French and Belgian bonds prices in June 2015.
  •  Morgan Stanley said it intended to lodge an appeal.

PARIS: France's markets watchdog AMF said on Tuesday it has fined U.S bank Morgan Stanley 20 million euros ($22 million) for manipulation of sovereign bonds.

The fine relates to manipulations of French and Belgian bonds prices in June 2015, AMF said in a statement.

Morgan Stanley said it intended to lodge an appeal.

"The activities in question were undertaken in accordance with market practice and as part of the firm's role and obligations as a market maker," the bank said in a statement.

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