Investment Banking firm, Morgan Stanley (NYSE:MS) has agreed to pay a fine of $4 million to the US Securities and Exchange Commission, according to CNBC. The investment firm had failed to monitor the credit limit for one of its clients, who was able to make a significant trade of about $1 billion in Apple Inc. (NASDAQ:APPL) stock.
WASHINGTON (Reuters) - U.S. securities regulators on Wednesday charged a former Morgan Stanley executive with fraud in connection with real estate investments in China. Morgan Stanley's former managing director in its real estate investment and fund advisory business, Garth Peterson, secretly acquired millions of dollars worth of real estate investments for himself and an influential Chinese official, the Securities and Exchange Commission said. The Justice Department filed related criminal charges, the SEC said. (Reporting By Aruna Viswanatha; Editing by Gary Hill)
FA Insights is a daily newsletter from Business Insider that delivers the top news and commentary for financial advisors. The SEC claims that an RIA used client money to pay a settlement (InvestmentNews)
J.P.Morgan Securities is to pay $153.6 million to settle allegations that it misled investors in a complex mortgage securities transaction, just as the US housing market was starting to plummet. Fraud charges brought by the Securities and Exchange Commission (SEC) allege that the firm structured and marketed a “synthetic” collateralized debt obligation (CDO), known as [...]
A stockbroker and a clerk from a top corporate law firm were charged with insider trading in a scheme that involved a middleman swallowing illicit tips that were written on Post-It notes, the Securities and Exchange Commission said in a release.
A new article up at the Wall Street Journal blares, “J.P. Morgan Still Faces Criminal Investigation for ‘Whale’ Trades.” This is technically accurate and shows some refreshing tough-mindedness among regulators in how they are negotiating with JP Morgan over its London Whale trades.
A JPMorgan Chase affiliate will pay $153.6 million to settle charges it misled investors in a mortgage securities deal as the housing market bubble was collapsing, regulators said Tuesday.The Securities and Exchange Commission said that JP Morgan Securities, one of the Wall Street bank's broker-dealer affiliates, has agreed to repay fully the harmed investors."In settling the SEC's fraud charges, JP Morgan also agreed to improve the way it reviews and approves mortgage securities transactions," the markets watchdog agency said.
On Tuesday, the SEC announced that Morgan Stanley will be fined $7.5 million to settle civil charges that it violated customer protection rules, when it used trades involving customer cash to lower its borrowing costs. The SEC said MS will settle the case without admitting or denying the charges, effectively letting slide a violation which, in an exaggerated format, was exposed as a quasi-criminal offense engaged in by Jon Corzine's now defunct MF Global.