Violation Tracker Individual Record

Company: 
Morgan Stanley & Co.
Current Parent Company: 
Morgan Stanley
Penalty: 
$102,000,000
Year: 
2010
Date: 
June 24, 2010
Offense Group: 
financial offenses
Primary Offense: 
toxic securities abuses
Violation Description: 

Morgan Stanley agreed to pay $102 million to affected parties in Massachusetts in settlement of allegations it provided financing for subprime loans and secured those loans while ignoring legal requirements and its own guidelines to correctly assess the risk of those loans to the borrower and investor.

Level of Government: 
state
Action Type: 
agency action
Agency: 
Massachusetts Attorney General
Civil or Criminal Case: 
civil
Facility State: 
Massachusetts
HQ Country of Parent: 
USA
HQ State of Parent: 
New York
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
financial services
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.