SEC
Whistleblower
Advocates

December 20, 2016

Morgan Stanley & Co. LLC

Trading and Pricing

SANCTION AMOUNT: $7,500,000

Defendants: Morgan Stanley & Co. LLC

Settlement of charges that Respondent used trades involving customer funds to lower its borrowing costs in violation of the SEC’s Customer Protection Rule, such that Respondent's reserve account requirements were not legitimately met and customer funds were at risk.

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