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Stock Market & Financial Investment News

News Breaks
August 6, 2014
06:25 EDTMSMorgan Stanley says added $53M to legal costs in Q2, cutting EPS by 2c
Subsequent to the release of the company’s earnings on July 17, legal accruals were increased, which increased other expenses within the Institutional Securities business segment in the quarter and six months ended June 30, 2014 by $53M related to agreements in principle to settle certain mortgage­ related matters. This decreased diluted EPS and diluted EPS from continuing operations by 2c in the quarter and six months ended June 30, the company said in a filing. The settlements were considered to be recognizable subsequent events requiring adjustment to the June 30 condensed consolidated financial statements under U.S. GAAP.
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May 13, 2015
09:32 EDTMSMorgan Stanley fined $2M by FINRA for short interest reporting, rule violations
FINRA announced that it has fined Morgan Stanley & Co. LLC $2M for short interest reporting and short sale rule violations that spanned a period of more than six years, and for failing to implement a supervisory system reasonably designed to detect and prevent such violations. FINRA found that Morgan Stanley, over several years, failed to completely and accurately report its short interest positions in certain securities involving billions of shares. FINRA also found that the firm's supervisory system was deficient because it failed to detect and prevent these violations over an extended period of time. FINRA found that over a seven-year period, Morgan Stanley included positions from the accounts of non-broker-dealer affiliates in a number of aggregation units when determining each unit's net position. FINRA also found that the firm's supervisory system was not reasonably designed to detect and prevent such violations. In concluding this settlement, Morgan Stanley neither admitted nor denied the charges, but consented to the entry of FINRA's findings.
May 12, 2015
14:13 EDTMSBove says it may be time to buy bank stocks
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07:48 EDTMSStandard & Poor's to hold a summit
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