Morgan Stanley Pays $5M To Settle CFTC Futures Probe

Law360, New York (June 5, 2012, 3:28 PM EDT) -- Morgan Stanley & Co. LLC reached a $5 million settlement Monday in a U.S. Commodity Futures Trading Commission probe into whether the company unlawfully executed, processed and reported off-exchange futures trades to the Chicago Mercantile Exchange and Chicago Board of Trade in exchange for related positions.

"Because the futures trades were executed noncompetitively and not in accordance with exchange rules governing [exchanges for related positions], they constituted ‘fictitious sales’ and resulted in the reporting of non-bona fide prices, in violation of the [Commodity Exchange Act] and...
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.