China’s securities regulator has ordered Morgan Stanley to provide it with information on a US investigation into its block trading business, putting pressure on the Wall Street bank’s plans to expand in the country.
The China Securities Regulatory Commission cited the US probe in a notice on its website on Friday and said it required Morgan Stanley to provide details about its role in the matter within 30 days.
The regulator said it was aware the US Securities and Exchange Commission had issued subpoenas to Morgan Stanley “and other institutions” requesting data on block transactions, the notice said. It asked Morgan Stanley to “explain” reports about the SEC investigation.