Morgan Stanley faces potential harm after underwriting Zijin Gold’s Hong Kong IPO, linked to alleged human rights abuses against Uyghurs in China. The House committee on China questions if the bank helped Zijin Mining evade U.S. prohibitions. Requests for documents by November 27 to investigate further.

Zijin Mining, a subsidiary of Zijin Gold, was added to the Uyghur Forced Labor Prevention Act Entity List in January. U.S. officials allege forced labor camps for Uyghurs in Xinjiang, while Beijing denies any abuses. The House committee seeks information on Morgan Stanley’s ties to the Chinese government and human rights abuses.

The House committee is investigating U.S. financial institutions’ involvement in underwriting Chinese companies with ties to the Chinese military or illegal labor practices. Morgan Stanley, JPMorgan, and Bank of America are under scrutiny for their roles in underwriting Chinese IPOs. The committee seeks to deter financial institutions from engaging with firms linked to Uyghur forced labor.

Read more at Yahoo Finance: Morgan Stanley questioned by US House panel over Zijin Gold IPO in Hong Kong