In its Form 10-K filed yesterday, Morgan Stanley disclosed that it has reached a tentative agreement to pay $275 million to resolve an SEC investigation into subprime RMBS transactions the firm sponsored and underwrote in 2007. The disclosure appears to signal the end of Morgan Stanley’s distinction of being the only major bank to avoid paying a fine to the U.S. government related to its conduct leading up to the financial crisis.
‘Enforcement 40’ for 2020
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