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Morgan Stanley fined over First Republic insider sales, WSJ reports
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Morgan Stanley fined over First Republic insider sales, WSJ reports
Sep 6, 2024 1:34 PM

Sept 6 (Reuters) - Morgan Stanley ( MS ) has agreed to

pay $2 million to settle an investigation that determined it

failed to properly monitor trades by First Republic Bank's

executive chairman before it failed, the Wall Street Journal

reported on Friday.

The investment bank neither admitted nor denied wrongdoing,

according to the report, which cited Massachusetts Secretary of

the Commonwealth William Galvin.

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