France fines Morgan Stanley $22 million for manipulating sovereign bonds
PARIS (Reuters) - France's markets watchdog AMF said on Tuesday it has fined U.S bank Morgan Stanley 20 million euros ($22 million) for manipulation of sovereign bonds.
The fine relates to manipulations of French and Belgian bonds prices in June 2015, AMF said in a statement.
Morgan Stanley said it intended to lodge an appeal.
"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.
($1 = 0.9073 euros)
(Reporting by Matthieu Protard; Editing by Andrew Heavens and Susan Fenton)