Morgan Stanley may pay up to $1 billion to resolve US probe into private stock sales

Morgan Stanley may pay up to $1 billion to resolve US probe into private stock sales - Semafor

2023-11-01 00:15

(Reuters) -Morgan Stanley may pay between $500 million and $1 billion to resolve a long-running U.S. probe into how it

(Reuters) -Morgan Stanley may pay between $500 million and $1 billion to resolve a long-running U.S. probe into how it handled private stock sales, Semafor reported on Tuesday, citing people familiar with the matter.

A possible settlement with the Justice Department and the Securities and Exchange Commission could also see the bank tightening its internal controls, the report said.

The Wall Street giant, however, likely would not plead guilty to a crime, the report added.

Morgan Stanley declined to comment.

(Reporting by Niket Nishant in Bengaluru; Editing by Anil D'Silva)