Wall Street powerhouse Morgan Stanley agreed on Tuesday to pay a $10 million civil fine to settle federal regulators’ charges that it failed for years to maintain and enforce safeguards to prevent the misuse of inside information about companies whose securities are held in thousands of employee and employee-related accounts. Under the settlement, the SEC also censured Morgan Stanley, which agreed to hire a consultant to review its policies and practices for preventing misuse of confidential information.
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Posted on Wednesday, June 28th, 2006. Filed under: Business Law, Law Misc
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