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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.