Reported by: Bloomberg

Another Morgan Stanley executive whose communications were sought in a US probe into how Wall Street handles big stock trades has been placed on leave, amid a flurry of behind-the-scenes activity in the investigation. 

Authorities haven’t accused anyone of wrongdoing. Morgan Stanley is embroiled in the sprawling investigation examining how Wall Street bankers work with hedge funds and other buyers to privately carry out stock sales big enough to move prices. The bank disclosed a probe into its block-trading business earlier this year.

The investigation focuses on a corner of Wall Street trading that still relies on cultivating relationships that help banks out-bid rivals and win deals. That has long raised suspicions and sometimes complaints from investors.

Read full report: https://www.advisorhub.com/morgan-stanley-banker-put-on-leave-as-block-trade-probe-heats-up/