Morgan Stanley, UBS Pay $14M To Settle CFTC Oil Case

Law360, New York (April 30, 2010, 1:48 PM EDT) -- Units of Morgan Stanley and UBS AG have agreed to pay more than $14 million to settle U.S. Commodity Futures Trading Commission allegations that they hid a large crude oil block trade in violation of the rules of the New York Mercantile Exchange.

The CFTC said Thursday that Morgan Stanley Capital Group Inc. would pay $14 million and UBS Securities Inc. would pay $200,000 to settle the allegations.

Morgan Stanley also agreed for the next three years to notify its traders of new and modified trading...
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