01 · In plain English
What happened.
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.
Summarised from the FSA's notice and press reports. The official text and documents below are the authoritative record.
02 · Enforcement details
What the FCA register says.
The FSA gave Morgan Stanley a Decision Notice dated 1 April 2009 which notified Morgan Stanley that pursuant to section 206 of the Financial Services and Markets Act 2000 (the Act), the FSA had decided to impose a financial penalty of £1.4 million on Morgan Stanley for breaches of Principles 2 and 3 of the FSA's Principles for Businesses (the Principles) which occurred between November 2007 and May 2008 (the Relevant Period).
03 · Firm details
Firm on the FCA register.
- Firm name
- Morgan Stanley & Co. International Plc
- Firm reference number
- 165935
- Register status
- Authorised
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