Morgan Stanley fined by AMF over govvie manipulation

By Lewis McLellan
10 Dec 2019

Morgan Stanley has been fined €20m by the Autorité des Marchés Financiers (AMF) for manipulation of French and Belgian government bond prices. The bank intends to appeal the fine.

The French regulator claims that Morgan Stanley aggressively bid up OAT futures, Bund futures and Buxl futures on Eurex, before selling OATs and OLOs for a combined €1.155bn in June 2015.

The AMF ruled that 14 of the 17 OATs sold, and all eight of the OLOs, were sold ...

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