CFTC hits Morgan Stanley with a $14 million fine
The trades were executed around mid-day on Feb. 6, 2009, but traders did not notify the Exchange about them until after the market had closed, the CFTC claims.
Aside from the fine, Morgan Stanley agreed to educate its traders on the NYMEX trading rules.
Action against the bank comes as the Senate prepares to begin debate next week on financial reform legislation. A chief reason for creating the bill is to shed more like on commodity trades, like oil futures.
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