Morgan Stanley May Face SEC Action
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Morgan Stanley, roiled by a management shake-up and investor dissent, disclosed Wednesday that the Securities and Exchange Commission was considering enforcement action against it for not properly retaining e-mails.
In an SEC filing, the brokerage said it had made the case that no action was warranted.
The filing said the SEC made a preliminary determination to recommend punishing the firm for alleged securities law violations and violation of a 2002 cease-and-desist order on e-mail retention.
Morgan Stanley shares rose 15 cents to $56.60 on the NYSE.
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