Morgan Stanley has agreed to pay $15 million, which will settle allegations that the firm did not produce thousands of e-mails for the Securities and Exchange Commission's IPO and research analyst investigations, which occurred from 2000-2005, Reuters reports.

The SEC alleges that Morgan Stanley did not do a diligent enough search for back-up tapes containing e-mails until 2005, even though the SEC had subpoenaed the firm for certain documents in 2000. 

In addition, Morgan Stanley was also dishonest about the status and completeness of its productions and the availability of certain documents.

Although the firm agreed to settle, it neither admitted nor denied any wrongdoing.

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