The Financial Industry Regulatory Authority on Tuesday said it ordered Morgan Stanley to pay $800,000 for failing to tell conflicts of interests in thousands of stock-research reports since 2006. The group said that Morgan Stanley & Co., a subsidiary of the investment bank, failed to tell accurate information about the firm’s relationships with those companies it covered in more than 6,500 equity research reports.
Posts Tagged ‘Morgan Stanley’
Morgan Stanley Fined By FINRA Over Failure to Disclose
August 14th, 2010 
Before You Invest 
Posted in Finance Fraud 
Tags: Conflicts, Decade, Desire, Disclosures, Equity Research, Failure, Financial Industry Regulatory Authority, Finra, Household, Infractions, Investment Bank, Morgan Stanley, Morgan Stanley Co, Public Appearances, Relationships, Research Analysts, Research Recommendations, Stock Research, Subsidiary, Wall Street 
Comments OffSEC to pay $755,000 damages to ex-lawyer
July 3rd, 2010 Before You Invest A former lawyer for the Securities and Exchange Commission (SEC) who claimed he was unjustly fired after trying to investigate an insider trading ring is to receive $755,000 in hurts.Gary AguirreGary Aguirre, who was fired by the SEC in September 2005, alleged that he was let go by the organisation after attempting to probe trades made by hedge fund Pequot Capital Management.The ex-lawyer claimed that senior officials at the regulator prevented him from interviewing John Mack, an executive who at the time was a candidate for the role of chief executive officer at Morgan Stanley.It was alleged by the legal expert that his determination to pursue the investigation led to his eventual dismissal by the SEC.The SEC’s pay out will include the cost of his legal fees and salary equivalent to that of four years and ten months.John Nester, SEC spokesman, said: “The settlement resolves all outstanding litigation between the parties and reflects the agency’s determination to focus on its core mission of protecting investors.”In May Pequot Capital and Arthur Samberg, the hedge fund’s founder and chairman, agreed to pay $28 million in fines to the SEC to settle charges of insider trading in relation to shares in Microsoft Corp.
Posted in Finance Fraud Tags: Aguirre, Arthur Samberg, Capital Management, Chief Executive Officer, Core Mission, Damages, Hedge Fund, Insider Trading, John Mack, Lawyer, Legal Expert, Litigation, Microsoft Corp, Morgan Stanley, Nester, Pequot Capital, Securities And Exchange, Securities And Exchange Commission, Senior Officials, Spokesman Comments OffMorgan Stanley hiring hundreds to expand wealth management unit
July 3rd, 2010 Before You Invest Morgan Stanley is plotting to hire around 500 new bankers as part of a strategy to increase the size of its wealth management division.An insider told Bloomberg that 100 new staff have already been taken on, with a further 400 potentially set to follow between now and the end of 2011.Morgan Stanley is attempting to build a successful private bank, offering loans, investment advice and savings products to its wealthiest clients.The bank’s wealth management unit recorded interest income of $191 million for the first quarter of the year, far below the $1.1 billion figure made at Bank of America Merrill Lynch.In May, Hisaki Endo, a representative director at Morgan Stanley Capital Group Japan, said that the firm is looking to double the size of its Japanese commodities business over the course of the next two years.”The commodities sector is lagging behind Europe and America, given the economy’s size,” he told Bloomberg.
Posted in Finance Fraud Tags: 1 Billion, Bank Of America, Capital Group, Commodities, Endo, Europe And America, First Quarter, Group Japan, Insider, Interest Income, Investment Advice, Loans, Management Division, Management Unit, Merrill Lynch, Morgan Stanley, Morgan Stanley Capital, Private Bank, Representative Director, Wealth Management Comments OffEisman of ‘Big Short’ Says Sell Education Stocks
May 28th, 2010 Before You Invest (Bloomberg) — Steven Eisman, a hedge-fund manager whose bet against the housing market was chronicled in a best- selling book, said he has found the next “huge small”: higher education stocks.The stocks of companies operating for-profit colleges could fall much as 50 percent if the U.S.
Posted in Finance Fraud Tags: Absolute Nonsense, Administration Proposal, Apollo Group, Apollo Group Inc, Career College Association, Corinthian Colleges Inc, Doomsday Machine, Education Companies, Education Stocks, Educational Services Inc, Eisman, Frontpoint Partners, Hedge Fund Manager, Itt Educational Services, Itt Educational Services Inc, Morgan Stanley, Profit Education, Slow Enrollment Growth, Subprime Borrowers, Subprime Mortgage Comments OffBaltimore’s incredibly shrinking financial industry takes another hit
May 18th, 2010 Before You Invest (Baltimore Business Journal) Baltimore used to be a regional powerhouse for banking and financial services, its roster of blue chip firms the envy of Interstate 95 neighbors Washington, D.C., and Philadelphia.But just as rain slowly eats away the end from a fine piece of outdoor sculpture, Baltimore’s financial services industry also has eroded over the past two decades.
Posted in Finance Fraud Tags: Alex Brown, Baltimore Business Journal, Banking And Financial Services, Base Realignment And Closure, Charm City, Chip Firms, Closure Plan, Financial Services Sector, Greater Baltimore, Investment Firms, Legg Mason, Morgan Stanley, Musical Chairs, Outdoor Sculpture, Pink Slips, Provident Bankshares, Regional Powerhouse, T Rowe Price, T Rowe Price Group, Town Rivals Comments OffProbe of US Banks Continues
May 13th, 2010 Before You Invest U.S. authorities are expanding their probes of past mortgage securities deals, with New York’s attorney general opening an investigation into whether eight banks misled rating agencies, a source familiar with the matter said.New York Attorney General Andrew Cuomo’s office on Wednesday served subpoenas on four U.S.
Posted in Finance Fraud Tags: Attorney General Andrew Cuomo, Bank Of America, Credit Agricole, Credit Suisse, Criminal Probe, Federal Prosecutors, Goldman Sachs, Goldman Sachs Group, Goldman Sachs Group Inc, Merrill Lynch, Morgan Stanley, Mortgage Bond, Mortgage Securities, New York Attorney General, New York Attorney General Andrew Cuomo, Sachs Group Inc, Subpoenas, Subprime Mortgage Meltdown, Wall Street Journal, York Attorney General Andrew Cuomo Comments OffAuthorities look into whether large banks misled investors
May 12th, 2010 Before You Invest Federal prosecutors are working with the Securities and Exchange Commission to look into whether some major banks, including Morgan Stanley, Deutsche Bank, UBS, JPMorgan Chase and Citigroup, might have misled investors regarding their role in collateralized debt obligations, a source said. Prosecutors reportedly are in the early stages of gathering evidence but have not issued subpoenas or started outlining potential cases.http://online.wsj.com/article/SB10001424052748704247904575240783937399958.html
Posted in Finance Fraud Tags: Authorities, Banks, Citigroup, Collateralized Debt Obligations, Deutsche Bank, Federal Prosecutors, Investors, Jpmorgan Chase, Morgan Stanley, Securities And Exchange, Securities And Exchange Commission, Subpoenas, Ubs, Wsj Comments OffMorgan Stanley pays $14 million oil-trading fine
April 29th, 2010 Before You Invest WASHINGTON — In another black eye for Wall Street, the Commodity Futures Trading Commission late Thursday announced a $14 million fine against Morgan Stanley Capital Group Inc. to settle accusations of hiding its complex oil trades.The settlement, in which Morgan Stanley did not admit or deny the accusations, comes as oil prices have continued their steady upwards march and have some oil analysts again saying that excessive speculation is again pushing up energy prices.
Posted in Finance Fraud Tags: Accusations, Article Synopsis, Black Eye, Capital Group Inc, Cftc, Commodity Futures Trading Commission, Commodity Trading, Counterpart, Energy Prices, Excessive Speculation, Futures Trading Commission, Morgan Stanley, Morgan Stanley Capital, New Attitude, Oil Prices, Oil Trading, Ubs, Ubs Securities, Upwards, Wall Street Comments OffTheflyonthewall.com restrained from publishing stock data by injunction
March 22nd, 2010 Before You Invest Morgan Stanley, Barclays and Merrill Lynch have won a law suit restraining a website from publishing time-sensitive data on stocks and shares.Theflyonthewall.com was judged to have misappropriated the information by its quick publication of data, which the banks claimed subsequently impacted business.Publication of data before markets open will now be delayed until after 10:00 while information on daytime trades will have a two-hour embargo.Judge Denise Cote told the Wall Street Journal: “[It] bears noting that it does not matter to the firms whether the unauthorized distribution is through a small internet company like Glide or through media giants like Bloomberg, Thomson Reuters or Dow Jones.“The hurt is caused not by the identity of the publisher, but by the timely and systematic unauthorized redistribution of the firms’ recommendations, whatever the medium.”Glenn Ostrager, a lawyer representing the website, said that it would appeal against the ruling.He claimed that the choice was “at variance with existing law”.The injunction was brought by the three banks in March.
Posted in Finance Fraud Tags: Barclays, Business Publication, Dow Jones, Embargo, Injunction, Internet Company, Law Suit, Media Giants, Merrill Lynch, Morgan Stanley, Reuters, Sensitive Data, Stock Data, Stocks And Shares, Stocks Shares, Thomson, Unauthorized Distribution, Unauthorized Redistribution, Variance, Wall Street Journal Comments OffMorgan Stanley launches MS PORT trading algorithm
March 12th, 2010 Before You Invest Morgan Stanley has announced the launch of new electronic trading platform MS PORT. According to the investment bank, MS PORT utilises more than 70 risk metrics to enable investors to implement trade instructions across multiple portfolios more effectively.By comparing market impact, volatility and assets, traders should be able to reduce costs, achieve better execution and manage risk more efficiently when investing, the bank clarified.Andrew Silverman, global co-head of Morgan Stanley Electronic Trading, said: “The addition of MS PORT to our constantly evolving suite of algorithms underscores our commitment to providing our clients with a complete set of trading tools and solutions to manage their global execution needs.”In a statement the bank added that MS PORT also integrates with MS Analytics, allowing investors to follow each step of a trade.The new electronic trading product is now available in the US and Europe and will be introduced to Asia-Pacific markets later on in the year.Morgan Stanley recently announced the appointment of Jeffrey L Shames and Edmond N Moriaty III to its Investment Management and Global Research teams.The former was employed as chairman and chief executive officer of MFS Investment Management while the latter previously worked as senior vice-president at Merrill Lynch & Co.
Posted in Finance Fraud Tags: Asia Pacific Markets, Chief Executive Officer, Edmond, Electronic Trading, Global Co, Global Execution, Global Research, Investment Bank, Launch, Market Impact, Merrill Lynch, Mfs Investment Management, Morgan Stanley, Moriaty, Risk Metrics, Senior Vice President, Shames, Trading Platform, Trading Tools, Volatility Comments Off
