Corporate Ethics and Governance  
  Home Guidance Documents Company search File a Report  


Company: Morgan Stanley

Track this Company

Morgan Stanley hit by record fine

Date Class
12th Jan 2005 Fraud Investigation
 
Details
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.

 

 

 


Corporate Ethics and Governance is a service from International Charter
Use of this Service is acceptance of the Terms of Agreement
EU Privacy Shield