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France fines Morgan Stanley $22 million for manipulating sovereign bonds

Christian Fernsby ▼ | December 10, 2019
France’s markets watchdog AMF said on Tuesday it has fined U.S bank Morgan Stanley (MS.N) 20 million euros ($22 million) for manipulation of sovereign bonds.
Morgan Stanley
Finance fine   Morgan Stanley
The fine relates to manipulations of French and Belgian bonds prices in June 2015, AMF said in a statement.

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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.