According to people familiar with the situation, federal investigators are probing the trading block business on Wall Street, examining whether bankers may be making improper investments to investors. hedge fund clients before selling large stocks or not.
Some say the Securities and Exchange Commission has sent subpoenas to companies including Morgan Stanley and Goldman Sachs Group Inc. The Justice Department is also investigating the matter, several residents said.
https://www.wsj.com/articles/regulators-probe-block-trading-at-morgan-stanley-goldman-other-wall-street-firms-11644875448?mod=rss_markets_main Block Trading Exploration Regulators at Morgan Stanley, Goldman, Other Wall Street Firms