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Morgan Stanley fined $6.8m by UK energy regulator for comms recordkeeping failure

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Photo: Justin Sullivan/Getty Images

Martin Cloake

2 min read
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First UK action by Ofgem on off-channel comms in wholesale energy market.

UK energy regulator Ofgem has imposed a £5.41m ($6.89m) fine on Morgan Stanley for failing to keep records of trading communications.

It is the first fine issued in the UK under the REMIT Enforcement Regulations, an EU regulation that transferred to the UK after Brexit, and the fact that it

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