New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
August 6, 2014
06:27 EDTMSMorgan Stanley says continuing to respond to subpoenas, requests for information
Morgan Stanley said in a filing that it is continuing to respond to subpoenas and requests for information from certain federal and state regulatory and governmental entities, including among others various members of the RMBS Working Group of the Financial Fraud Enforcement Task Force, concerning the origination, financing, purchase, securitization and servicing of subprime and non-subprime residential mortgages and related matters such as residential mortgages backed securities, collateralized debt obligations, structured investment vehicles and credit default swaps backed by or referencing mortgage pass through certificates. These matters include, but are not limited to, investigations related to the company’s due diligence on loans that it purchased for securitization, the company’s communications with ratings agencies, the company’s disclosures to investors, and the Company’s handling of servicing and foreclosure related issues. On May 8, the California Attorney General’s Office, which is one of the members of the RMBS Working Group, indicated that it has made certain preliminary conclusions that the Company made knowing and material misrepresentations regarding RMBS and that it knowingly caused material misrepresentations to be made regarding the Cheyne SIV, which issued securities marketed to the California Public Employees Retirement System. The CAAG has further indicated that it believes the company’s conduct violated California law and that it may seek treble damages, penalties and injunctive relief. The company does not agree with these conclusions and has presented defenses to them to the CAAG. On July 23, the U.S. SEC approved the company’s Offer of Settlement to resolve the SEC’s investigation of certain subprime RMBS transactions sponsored and underwritten by the company in 2007. Pursuant to the settlement, the company was charged with violating Sections 17(a)(2) and 17(a)(3) of the Securities Act, agreed to pay disgorgement and penalties in an amount of $275M and neither admitted nor denied the SEC’s findings.
News For MS From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
July 1, 2015
07:57 EDTMSU.S. banks not facing significant direct losses on Greek default, WSJ says
Subscribe for More Information
June 29, 2015
10:38 EDTMSMorgan Stanley looks to expand bond trading unit, WSJ says
Subscribe for More Information
June 26, 2015
09:02 EDTMSLittleBits raises $44.2M in funding from group including Morgan Stanley
Hardware startup LittleBits Electronics announced $44.2M in new funding to further fuel its growth. This additional funding round was led by DFJ Growth ­with additional participation from new investors Morgan Stanley Alternative Investment Partners​, Grishin Robotics and Wamda Capital, among others.
07:28 EDTMSKKR-backed Coffee Day plans $181M IPO in India, Bloomberg reports
Coffee Day Enterprises, which includes KKR (KKR) among its investors, plans to raise as much as $181M from an initial share sale in India, Bloomberg reports. Kotak Mahindra Capital, Citi (C), and Morgan Stanley (MS) are among the managers to the planned sale, the report says. Reference Link
June 25, 2015
07:48 EDTMSMorgan Stanley disregards Fed guidelines with $1B loan, NY Post reports
Subscribe for More Information
07:13 EDTMSFed director says full transparency in stress testing can be 'enormous weakness'
Subscribe for More Information
June 23, 2015
06:53 EDTMSPSAV prepares for IPO that could raise roughly $300M, Bloomberg says
Subscribe for More Information
June 22, 2015
10:52 EDTMSMorgan Stanley Smith Barney, Scottrade fined $950,000 by FINRA
Subscribe for More Information
June 19, 2015
06:29 EDTMSMorgan Stanley invests in Alibaba-backed online insurer, WSJ reports
A group of investors including Morgan Stanley (MS) has invested $934M in China’s first online-only insurer backed by Alibaba (BABA) called Zhong An Online P&C Insurance Company, valuing the venture at $8B, the Wall Street Journal reports. The investment has been approved by China’s insurance regulator, the report says. Reference Link
June 18, 2015
07:37 EDTMSNoranda Aluminum to evaluate strategic alternatives, suspends dividend
Subscribe for More Information
June 17, 2015
17:37 EDTMSGM hires advisers as Fiat Chrysler tries to force merger talks, Reuters says
Subscribe for More Information
07:06 EDTMSNoble CEO fires back at critics of company’s accounting practices, WSJ says
Noble Group (NOBGY) CEO Yusuf Alireza disputed allegations about the company’s accounting practices, particularly that it is hiding the true nature of its debt and improperly valuing its 13% stake in Australian coal miner Yancoal, the Wall Street Journal reports. In a letter to former longtime Morgan Stanley (MS) banker Michael Dee, Alireza said that the company’s evaluation of Yancoal is “reasonable and consistent with market practice and accounting policies” and that “any suggestion otherwise is ill-informed and factually incorrect,” the report says. “As an associate company, we must rely on a cash flow model to value our stake, which is consistent with market practice in the mining industry,” the Noble CEO added, the report says. Reference Link
06:48 EDTMSMore big banks waiving overdraft fees, WSJ reports
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use