Another Fine for Morgan Stanley

Morgan Stanley(MS Quote) keeps racking up regulatory fines stemming from sloppy management and oversight of its huge staff.

The big Wall Street firm is paying $10 million to the Securities and Exchange Commission to settle allegations that it failed to maintain and enforce procedures to prevent employees from misusing nonpublic information.

"Morgan Stanley failed to conduct any surveillance of a massive number of employee accounts held at the firm and trading in certain securities in those and other accounts,'' says the settlement announcement. ...