Morgan Stanley suspended as French Primary Dealer for at least 3 months

Statement from AFT: "Agence France Trésor (AFT), on behalf of the Minister of the Economy, Finance and Economic Recovery, has decided to suspend Morgan Stanley from its status of SVT (Spécialiste en Valeurs du Trésor - Primary Dealer) for a minimum period of three months, with effect from 4 August 2020, for the following reasons:

(i) the execution on 16 June 2015 of transactions that seriously affected the liquidity of the French sovereign bond market, in contradiction with its obligations as SVT ;

(ii) its failure to comply with its disclosure obligation under the SVT Charter regarding the existence, as of June 2017, of an investigation by the Autorité des Marchés Financiers into Morgan Stanley's transactions of 16 June 2015."

Full statement: https://www.aft.gouv.fr/en/publications/communiques-presse/20200803-suspension-primary-dealership-status-morgan-stanley