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. 

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