Morgan Stanley must pay $5 million over broken promises

WASHINGTON — Goldman Sachs and Morgan Stanley will pay a combined $557 million to settle federal complaints that they wrongfully foreclosed on homeowners who should have been allowed to stay in their homes. The agreements announced Wednesday with the Federal Reserve were similar to deals struck earlier this month with 10 other major banks and mortgage lenders. Combined, the 12 firms will pay more than $9 billion.

WASHINGTON — Goldman Sachs and Morgan Stanley will pay a combined $557 million to settle federal complaints that they wrongfully foreclosed on homeowners who should have been allowed to stay in their homes. The agreements announced Wednesday with the Federal Reserve were similar to deals struck earlier this month with 10 other major banks and mortgage lenders. Combined, the 12 firms will pay more than $9 billion.

Morgan Stanley is deferring 100% of bonuses for top earners, Reuters reports.

(Reuters) - Morgan Stanley will shift the way advisers in its wealth management business are paid next y

Morgan Stanley's corporate borrowing costs are already way higher than Goldman Sachs and more downgrades are likely in the works. The Fiscal Times explains How Morgan Stanley sank to junk pricing The bond markets are treating Morgan Stanley like a junk-rated company, and the investment bank’s higher borrowing costs could already be putting it at a disadvantage even before an expected ratings downgrade this month.

FINalternatives submits: Morgan Stanley (MS) may spin-off its quantitative proprietary trading desk as a separate hedge fund as it moves to comply with the new Volcker rule.