Morgan Stanley (NYSE:MS) said the Department of Justice has requested information regarding its block trading business, according to its 10-K annual filing.
The company said that beginning in August 2021, it has been responding to the requests from the U.S. Attorney's Office for the Southern District of New York and is cooperating with the investigation.
Beginning in June 2019, Morgan Stanley (MS) had been responding to requests for information from the Securities and Exchange Commission regarding various aspects of its block trading business.
Earlier this month, Bloomberg and the Wall Street Journal reported that the SEC and DOJ were investigating Morgan Stanley (MS) an Goldman Sachs (NYSE:GS) for whether they were improperly tipping off hedge fund clients before large share sales.