The CFTC in its order said that a Morgan Stanley futures customer transferred funds from a third party’s bank account to conduct trades several times between 2006 and 2008.
The CFTC charged that Morgan Stanley employees should have questioned the customer and investigated the suspicious transactions.
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The regulator also added that at the time of the above-described events, Morgan Stanley had maintained an inadequate system of supervision and internal controls to detect and deter violations of the CEA and CFTC regulations.
Morgan Stanley paid the fine without admitting or denying wrongdoing.
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