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Morgan Stanley, UBS among banks being hauled up over US Treasuries

They have been subpoenaed as part of a criminal probe into possible manipulation of the US$14 trillion market

Published Tue, May 2, 2017 · 09:50 PM

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Washington

FEDERAL prosecutors have subpoenaed several banks as part of a criminal investigation into possible manipulation of the US Treasuries market, according to people familiar with the matter.

UBS Group AG, BNP Paribas SA and the Royal Bank of Scotland Group Plc (RBS) received subpoenas last month seeking information on the US$14 trillion market, the people said. New York-based Morgan Stanley has also received a subpoena, one person said.

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