Morgan Stanley will pay $17 million to settle charges by the Securities and Exchange Commission that it failed to supervise four former financial advisers accused of market timing and other deceptive trading practices.

Without admitting or denying the charges, Morgan Stanley consented to pay a penalty of $11,880,000 and prejudgment interest of $5,120,000, for a total of $17 million.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.