Corp-Ethics.com - Report: Morgan Stanley hit by record fine

Company	Morgan Stanley [Company Info]
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Date	Issue	Title
12th Jan 2005	Fraud Investigation	Morgan Stanley hit by record fine

Report

The New York Stock Exchange (NYSE) has hit US investment bank Morgan Stanley with a record $19m (£10m) fine.

The penalty, the largest so far imposed by the exchange, was the result of regulatory and supervisory lapses at Morgan Stanley, the NYSE said.

The NYSE said it had discovered "supervisory, operational and technological deficiencies" in some of Morgan Stanley's operations.

The US exchange said it had also censured the firm.

Other shortcomings cited by the NYSE included Morgan Stanley's failure to deliver prospectuses to 156,000 accounts and provide accurate reports to the exchange.

Morgan Stanley has neither admitted or denied the findings, the NYSE said in a statement.

The bank was not immediately available for comment.

Other Reports on Morgan Stanley
Date	Issue	Company	Report
17th Aug 2008	Questionable Practice	Morgan Stanley	US banks give clients $7bn refund
20th Jul 2005	Other Issue	Morgan Stanley	Pension fund sues Morgan Stanley
18th May 2005	Fraud Investigation	Morgan Stanley	Morgan Stanley faces $850m payout

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