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Regulators probe block trading at Wall Street firms

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The U.S. Securities and Exchange Commission and the Justice Department are investigating block trading at several Wall Street firms.

Companies such as Morgan Stanley and Goldman Sachs are being probed to find out if they improperly tipped off hedge-fund clients ahead of large share sales, people familiar with the matter told The Wall Street Journal.

Subpoenas have been sent to banks and hedge funds.

Read more from The Wall Street Journal.

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