Morgan Stanley & Co. International Plc

The FSA found that Morgan Stanley & Co. International Plc breached Principles 2 and 3 of the FSA’s Principles for Businesses (Principle 2: conduct business with due skill, care and diligence; Principle 3: take reasonable care to organise and control its affairs) during the period November 2007 to May 2008. A Decision Notice dated 1 April 2009 imposed a financial penalty of £1.4 million under section 206 of the Financial Services and Markets Act 2000; the action is recorded on the FCA register on 13 May 2009. The register entry does not record any customer redress, settlement discount or subsequent appeal.