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Money News

U.S. SEC says Morgan Stanley agrees to pay $5 million for violations in prime brokerage swaps business

The headquarters of Morgan Stanley is seen in New York January 9, 2013. REUTERS/Shannon Stapleton/File Photo

WASHINGTON (Reuters) - The U.S. Securities and Exchange Commission (SEC) said on Wednesday Morgan Stanley agrees to pay $5 million for violations in it prime brokerage swaps business.

The firm did not admit or deny the regulator’s charges, but has consented to a cease-and-desist order, which imposing a censure, in addition to paying the penalty, the SEC said.

Reporting by Katanga Johnson

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