The French financial market regulator AMF asked for a penalty of 25 million euros ($27.7 million) against Morgan Stanley (MS) after the American bank appeared before the AMF's sanction committee on Friday morning.

The AMF alleges that on June 16, 2015, Morgan Stanley manipulated the price of the French and Belgian governments' debt, as well as contracts on German and French bonds, which AMF estimates would have allowed the bank to acquire between EUR1.5 million to EUR5.5 million.

Morgan Stanley rejects the allegations.

(This story was translated from the French Service Agefi-Dow Jones The financial newswire) -- Author: Franck Joselin

Translated by: Olivia Bugault

(END) Dow Jones Newswires

November 08, 2019 11:37 ET (16:37 GMT)

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