The French markets regulator has fined Morgan Stanley €20m for manipulating the price of European government bonds in June 2015, at the height of one of the trickier phases of the eurozone debt crisis.
Morgan Stanley was fined for a series of French and Belgian government bond trades worth around €1.1bn, the Autorité des Marchés Financiers said in statement on December 10. According to the authority, the US bank artificially inflated the price of the bonds before selling them, by “aggressively” buying related bond futures in the minutes leading up to the sales.
