Morgan Stanley Settles With SEC For $7.5M

Law360, New York (October 11, 2007, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission has agreed to accept a $7.5 million settlement offer from Morgan Stanley & Co., putting to rest charges that the financial services firm failed to provide customers with accurate written trade confirmations for certain fixed income securities over a five-year period.

The charges largely relate to actions by former subsidiary Morgan Stanley DW Inc., which merged into the parent company earlier this year.

In an administrative order released by the SEC on Wednesday, the commission said that Morgan Stanley's trade...
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