Morgan Stanley’s Archegos Unwinding Sped Up Trading Probe
- Bank was among first to dump positions as Archegos flamed out
- U.S. authorities ramped up probe after blowup of Hwang’s firm
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Morgan Stanley’s role in the unraveling of Bill Hwang’s family office breathed new life into a federal probe examining irregularities in Wall Street’s lucrative market for block trades.
U.S. authorities ramped up their investigation into whether big banks and their hedge fund clients broke rules when privately negotiating large stock sales after the blowup at Archegos Capital Management, according to people with knowledge of the matter.