News & Analysis as of

Morgan Stanley

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Even as the administration is mulling over withdrawing from the Paris Climate Accord, Exxon Mobil’s shareholders have voted to demand a more detailed accounting of the climate change policy risks facing the company—an...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

New FCC Chair Ajit Pai is wasting little time in reversing Obama-era regulatory efforts meant to restrict media firms and telecomm companies, and he’s got his sights set on net neutrality next....more

The problem with Morgan Stanley’s payment decision

by Ary Rosenbaum on

As you probably heard, Morgan Stanley will be moving to a level compensation approach for its 401(k) advisors. So this means it will do away with commission payments and finder’s fees (for recommending record-keeping...more

US Federal Reserve Board Will Not Object to Resubmitted Capital Plan from Morgan Stanley

by Shearman & Sterling LLP on

The US Federal Reserve Board announced that it will not object to a resubmitted capital plan from Morgan Stanley given the progress made by the firm in addressing deficiencies identified by the Federal Reserve Board in last...more

Chris Lazarini Analyzes Application of Twombly in Retaliatory Discharge Case

by Bass, Berry & Sims PLC on

Bass, Berry & Sims attorney Chris Lazarini analyzed a case in which the plaintiff claimed he was wrongfully terminated from employment at Morgan Stanley after the company discovered he reported alleged illegal activities to...more

SEC Whistleblower Program May Be Facing Congressional Cutback

by Foley & Lardner LLP on

According to a memo circulating amongst Republican-party leaders as of February 13th, Republicans in the House of Representatives are planning to propose a significant curtailment of the U.S. Securities and Exchange...more

This Week In Securities Litigation

by Dorsey & Whitney LLP on

Morgan Stanley settled another case with the Commission this week. This time its brokerage unit resolved an action centered on the improper sales of ETFs, admitting the facts in the Order. ...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

The FHLB Boston’s $5.9 billion MBS case against Morgan Stanley, UBS, and Credit Suisse, is back in Massachusetts state court—a result of the Supreme Court’s Lightfoot v. Cendant Mortgage case that held that Fannie Mae’s...more

This Week In Securities Litigation

by Dorsey & Whitney LLP on

During a two week period divided by the Inauguration, the Commission filed just under 40 actions. Chair Mary Jo White stepped down from her position at the agency after delivering her departing remarks at the New York...more

SEC Sanctions Citi, Morgan Stanley Tied To Forex Trading Program

by Dorsey & Whitney LLP on

The SEC has continued to closely scrutinize disclosures related to trading in the markets. Its most recent cases involved Citigroup and Morgan Stanley. The actions are based on not disclosing that models used to market a...more

Sixth Circuit Declines to Address the Definition of Dodd Frank “Whistleblower”

On January 13, 2017, the Sixth Circuit in Verble v. Morgan Stanley Smith Barney, LLC, declined an opportunity to be the third federal appellate court to address the definition of “whistleblower” under Dodd Frank’s...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

The headline a few days ago was the arrest of VW exec Oliver Schmidt during an ill-advised trip to Miami last week. But the DOJ also indicted five other top executives over their role in VW’s emissions cheating scandal. No...more

SEC Endorses Use of Conditional Offers to Buy Shares in IPOs

by Dorsey & Whitney LLP on

The Securities and Exchange Commission (the “SEC”) recently issued a no-action letter to Morgan Stanley Smith Barney L.L.C. (“Morgan Stanley”) that will streamline the process for its wealth management clients to participate...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

As anticipated, the Fed raised its benchmark interest yesterday (for only the second time since the 2008 financial crisis) to somewhere between .5 and .75 percent and, perhaps more critically, revealed its expectation for...more

Blog: Corp Fin Oks Technical Modification Of Process For Offers And Sales In IPOs

by Cooley LLP on

In a new no-action letter to Morgan Stanley, Corp Fin agreed that, as outlined in the request letter, the firm’s proposed procedures for offering and selling securities in IPOs would not involve a pre-effective sale for...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Faced with new Department of Labor rules requiring investment advisers to act in the best interest of their retirement account customers, Morgan Stanley’s decided to let its customers keeping paying for retirement advice with...more

US Federal Banking Agencies Release Public Sections of Resolution Plans for Eight Systemically Important Financial Institutions

by Shearman & Sterling LLP on

The US Federal Reserve Board and the FDIC posted the public portions of the required “targeted submissions” for eight systemically important US banking institutions...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Italy’s struggling lender Monte Dei Paschi is cutting jobs and closing branches in an effort to revive the world’s oldest bank (and maybe save Siena in the process)....more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Holding companies appear to be an important new feature of the “living will” revisions the big banks have been making in an effort to appease the Fed and FDIC’s efforts to stamp out “too big to fail” entities. The idea is for...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

In a “highly anticipated” ruling from the US Court of Appeals for the DC Circuit, a three-judge panel has found the structure of the Consumer Financial Protection Bureau unconstitutional, holding that the current organization...more

Your daily dose of financial news - The Brief – 10.4.16

by Robins Kaplan LLP on

The Journal gives us a closer look at Italy’s Monte dei Paschi—the world’s oldest bank (founded in 1472)—that’s deeply tied to Siena and that’s threatening to drag the whole of the region’s economy down with it if it fails,...more

Merrill Lynch Settles SEC Market Access Charges

by Dorsey & Whitney LLP on

The Commission has brought a series of cases under Exchange Act Section 15(c)(3) and Rule 15c3-5, its market access rule. That rule requires that broker-dealers with market access establish risk management controls to prevent...more

Federal Banking Agencies Issue Dodd–Frank Mandated Report on Bank Activities and Investments

by Alston & Bird on

On September 8, 2016, the Board of Governors of the Federal Reserve System (Federal Reserve), the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) issued a 107-page joint...more

Orrick's Financial Industry Week in Review

Financial Industry Developments - CFTC Announces Measures to Enhance Protection of Customer Funds - On August 8, 2016, the U.S. Commodity Futures Trading Commission (CFTC) announced three separate enhancements...more

New York Appellate Court Allows Fraud Claim to Proceed Against Morgan Stanley

On August 11, 2016, the First Department of the Appellate Division of the Supreme Court of the State of New York affirmed a trial court ruling that investor-plaintiff IKB International to proceed with claims that RMBS sponsor...more

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