The US is investigating how the bank handled private stock sales.
NEW YORK: Morgan Stanley may pay between US$500 million and US$1 billion to resolve a long-running US probe into how it handled private stock sales, Semafor reported on Tuesday, citing people familiar with the matter.
It, however, will likely not plead guilty to a crime, Semafor reported, adding that no individuals were expected to be criminally charged. A settlement would resolve a long-running legal headache for the Wall Street giant, especially as CEO James Gorman is set to hand over the top job to Ted Pick next year.
The bank had said earlier this year that it was cooperating with US regulators over investigations into its block-trading practices and providing authorities with information.
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