Morgan Stanley To Pay $15M For Erasing E-mails

Law360, New York (May 10, 2006, 12:00 AM EDT) -- Wall Street powerhouse Morgan Stanley agreed to pay a $15 million civil fine on Wednesday to settle charges that it had failed repeatedly to provide tens of thousands of e-mails during an investigation that stretched several years.

The Securities and Exchange Commission announced the filing of a civil injunctive action against Morgan Stanley in relation to the Commission’s IPO and Research Analyst investigations from Dec. 1, 2000 through at least July 2005 that sought to examine conflicts of interest in how Wall Street brokerage houses did...
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