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Posted On: 01/13/2024 5:55:20 AM
Post# of 27264
MORGAN STANLEY CRIMES: SEC
Morgan Stanley agreed to pay $249 million to settle a criminal investigation and a related Securities and Exchange Commission probe.
The investigations related to the unauthorized disclosure of block trades to investors by Pawan Passi, the bank’s supervisor for such trades, and another employee.
The SEC said the bank generated more than $100 million in illicit profits as a result of misconduct by Passi.
The bank entered into a non-prosecution agreement, while Passi got a deferred prosecution agreement.
Morgan Stanley agreed to pay $249 million to settle a criminal investigation and a related Securities and Exchange Commission probe.
The investigations related to the unauthorized disclosure of block trades to investors by Pawan Passi, the bank’s supervisor for such trades, and another employee.
The SEC said the bank generated more than $100 million in illicit profits as a result of misconduct by Passi.
The bank entered into a non-prosecution agreement, while Passi got a deferred prosecution agreement.
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