WASHINGTON (Reuters) – The Securities and Exchanges Commission on Friday charged Morgan Stanley & Co and former executive Pawan Passi with fraud involving the disclosure of confidential information about the sale of large quantities of stock known as block trades, the SEC said in a statement.
The firm agreed to pay more than $249 million to settle fraud charges and for failing to enforce information barriers, it said.
(Reporting by Doina Chiacu)
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