France markets watchdog AMF, has fined U.S bank, Morgan Stanley, 20 million euros, that’s about $22 million, for manipulation of sovereign bonds.
The fine relates to manipulations of French and Belgian bonds prices in June 2015.
Morgan Stanley said it intends to lodge an appeal as “The activities in question were undertaken in accordance with market practice and as part of the firm’s role and obligations as a market maker,” the bank said in a statement.
