Three Inquiries in Six Months Signal Growing Pressure on Wall Street’s China Exposure
Morgan Stanley is facing heightened pressure from Washington after the House Select Committee on China questioned its role in underwriting Zijin Gold International’s Hong Kong IPO — the latest in a string of congressional actions targeting U.S. banks’ involvement with sensitive Chinese issuers.
In a letter to CEO Ted Pick, Representative John Moolenaar, the committee chair, said Morgan Stanley’s participation may have exposed the bank and its U.S. investors to “regulatory, financial, and reputational harm.”