SEC Bans Ex-Morgan Stanley Trader Over Hidden Risks

Law360, New York (July 12, 2011, 10:51 PM EDT) -- The U.S. Securities and Exchange Commission on Tuesday imposed a cease-and-desist order against former Morgan Stanley trader Jennifer Kim for allegedly hiding the risk associated with her trading books, which lost $24 million.

The SEC agreed to Kim's offer to settle the charges by paying a penalty of $25,000 and being barred from association with a broker-dealer for three years, a deal SEC Commissioner Luis Aguilar said failed to address the "intentional nature of her conduct."

"Kim held four securities licenses and managed her own trading...
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