Morgan Stanley fined $275M over MBS by SEC


At issue are two residential MBS from 2007 underwritten by Morgan Stanley (MS +0.5%). The SEC found the bank misrepresented the current or historical delinquency status of the underlying loans.

"Morgan Stanley understated the number of delinquent loans behind these securitizations during a critical juncture of the financial crisis and denied investors the full extent of the facts necessary to make informed investment decisions," says the SEC's Michael Osnato.

The money will be returned to the harmed investors.

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