Morgan Stanley To Pay $350K Over CFTC Reporting Glitches

Law360, New York (November 2, 2017, 9:39 PM EDT) -- The U.S. Commodity Futures Trading Commission said Thursday that Morgan Stanley & Co. Inc. would pay a $350,000 fine after it uncovered problems with the trading firm’s customized regulatory reporting software that had been filing erroneous data since 2007.

The federal markets watchdog said Morgan Stanley uncovered long-running errors with its code that generates so-called Large Trader reports, which certain companies overseen by the CFTC are required to file with the regulator daily. The glitches affected reports for dozens of commodities contracts that trade on the...
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