By Kyle Brasseur2024-01-12T15:04:00
Financial services giant Morgan Stanley agreed to pay approximately $249 million as part of settlements with the Securities and Exchange Commission (SEC) and Department of Justice (DOJ) to resolve an admitted fraud scheme involving block trades perpetrated, in part, by a former senior employee at the firm.
In settling with the SEC, Morgan Stanley agreed to pay approximately $138 million in disgorgement, about $28 million in prejudgment interest, and an $83 million civil penalty, the agency announced Friday. The disgorgement and prejudgment interest totals will be deemed partially satisfied by the $137 million in forfeiture and restitution the DOJ ordered the firm to pay.
The DOJ also levied a fine of nearly $17 million that reflected a 35 percent discount for full cooperation. That fine was credited as part of the SEC’s penalty.
2024-02-16T19:21:00Z By Aaron Nicodemus
Morgan Stanley will pay a $1.6 million fine levied by the Financial Industry Regulatory Authority for failing to close out certain municipal securities transactions over a five-year period.
2024-01-11T16:39:00Z By Kyle Brasseur
The U.S. Attorney’s Office for the Southern District of New York took its efforts to encourage voluntary self-disclosure a step further with the launch of a whistleblower pilot program for individuals involved in nonviolent offenses.
2023-11-17T21:10:00Z By Adrianne Appel
Morgan Stanley agreed to pay $6.5 million as part of a settlement with six states requiring the firm to strengthen its data security after actions it took compromised the personal data of millions of customers.
2025-10-17T21:09:00Z By Oscar Gonzalez
Even though the U.S. federal government is currently shut down, the U.S. Securities and Exchange Commission appears to still be at work. The financial regulator is reportedly investigating a major insurance and asset management company over its accounting practices.
2025-10-16T20:38:00Z By Neil Hodge
Europe’s massive financial sector has become a magnet for illicit money flowing through its banks and markets. A new EU agency will be taking the problem head-on to fight against money laundering.
2025-10-08T18:28:00Z By Adrianne Appel
Charlie Javice, a former CEO who duped JPMorgan Chase into purchasing her start up company for $175 million, has been ordered to forfeit more than $22 million by the Department of Justice (DOJ) and to spend 7 years in jail.
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