Morgan Stanley to pay $7.5 million over customer protection rule violations

By By Sarah N. Lynch Features Reuters

Morgan Stanley will pay $7.5 million to settle civil charges that it violated customer protection rules when it used trades involving customer cash to lower its borrowing costs, U.S. securities regulators said Tuesday.

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The Securities and Exchange Commission said that Morgan Stanley will settle the case without admitting or denying the charges.

(Reporting by Sarah N. Lynch; Editing by Chizu Nomiyama)