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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 companyís due diligence on loans that it purchased for securitization, the companyís communications with ratings agencies, the companyís disclosures to investors, and the Companyís handling of servicing and foreclosure related issues. On May 8, the California Attorney Generalís 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 companyís 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 companyís Offer of Settlement to resolve the SECís 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 SECís findings.
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06:10 EDTMSMorgan Stanley implied volatility of 16 at lower end of index mean range
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May 14, 2015
06:04 EDTMSUnivision IPO could launch 'in weeks,' NY Post reports
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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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May 11, 2015
17:02 EDTMSMorgan Stanley to sell Global Oil Merchanting unit to Castleton Commodities
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12:51 EDTMSOn The Fly: Top stock stories at midday
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08:18 EDTMSBanks executives seek to push back on 'false, damaging' statements, WSJ reports
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07:07 EDTMSMorgan Stanley announces sale of Creative Circle to On Assignment
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