Defendant Name:
Morgan Stanley Investment Management Inc.
Defendant Type:
Subsidiary of Public Company
Document Reference:
33-9278
Document Details
Legal Case Name
In the Matter of Morgan Stanley Investment Management Inc.
Document Name
Order Under Rule 602(e) of the Securities Act of 1933 Granting a Waiver of the Rule 602(c)(3) Disqualification Provision
Document Date
16-Nov-2011
Document Format
Administrative Proceeding
Allegation Type
Investment Advisers/Investment Companies
Document Summary
According to the SEC: "Morgan Stanley Investment Management Inc. ('MSIM' or 'Respondent') has submitted a letter, dated October 20, 2011, requesting a waiver of the Rule 602(c)(3) disqualification from the exemption from registration under Regulation E arising from MSIM's settlement of an administrative proceeding commenced by the Commission." On November 16, 2011, the SEC ordered: "pursuant to Rule 602(e) under the Securities Act, that a waiver from the application of the disqualification provision of Rule 602(c)(3) under the Securities Act resulting from the entry of the Order is hereby granted."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Censured
Other Compliance Related Undertaking
Various Undertakings
Monetary Penalties:
Civil Penalty
Individual:
$1,500,000.00
Shared:
Related Documents:
2011-244
16-Nov-2011
Press Release--Administrative Proceeding
SEC Charges Morgan Stanley Investment Management for Improper Fee Arrangement
On November 16, 2011, the SEC announced in a Press Release that: "The Securities and Exchange Commission today charged Morgan Stanley Investment Management (MSIM) with violating securities laws in a fee arrangement that repeatedly charged a fund and its investors for advisory services they weren't actually receiving from a third party."
IA-3315
16-Nov-2011
Administrative Proceeding
Order Instituting Administrative and Cease-and-Desist Proceedings Pursuant to Sections 203(e) and 203(k) of the Investment Advisers Act of 1940, and Sections 9(b) and 9(f) of the Investment Company Act of 1940, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
On November 16, 2011, the SEC instituted settled administrative and cease-and-desist proceedings against Morgan Stanley Investment Management, Inc. ("MSIM"). According to the SEC: "These proceedings arise out of certain investment advisory fees improperly charged to a registered fund from 1996 to 2007. MSIM, the primary investment adviser to The Malaysia Fund, Inc. ('Fund'), represented to investors and the Fund's board of directors ('Board') that the Fund's Malaysian sub-adviser was providing certain services that the sub-adviser in fact was not providing. The Board approved the sub-adviser's fees each year based on MSIM's representations. As a result, the Fund paid approximately $1.8 million to the sub-adviser between 1996 and the end of 2007 (the 'relevant time period') for advisory services it did not receive. In early 2008, after Commission examination staff inquired into the Fund's relationship with the sub-adviser, the sub-adviser's services were terminated."
33-9279
16-Nov-2011
Administrative Proceeding
Order Under Section 27A(b) of the Securities Act of 1933 and Section 21E(b) of the Securities Exchange Act of 1934, Granting Waivers of The Disqualification Provisions of Section 27A(b)(1)(A)(ii) of the Securities Act of 1933 and Section 21E(b)(1)(A)(ii) of the Securities Exchange Act of 1934
According to the SEC: "Morgan Stanley has submitted a letter, dated October 20, 2011, requesting a waiver of the disqualification provisions of Section 27A(b)(1)(A)(ii) of the Securities Act of 1933 ('Securities Act') and Section 21E(b)(1)(A)(ii) of the Securities Exchange Act of 1934 ('Exchange Act') arising from its settlement of an administrative proceeding instituted by the Commission." On November 16, 2011, the SEC ordered: "pursuant to Section 27A(b) of the Securities Act and Section 21E(b) of the Exchange Act, that a waiver from the application of the disqualification provisions of Section 27A(b)(1)(A)(ii) of the Securities Act and Section 21E(b)(1)(A)(ii) of the Exchange Act as to Morgan Stanley and any current or future affiliates resulting from the issuance of the Commission's Order against MSIM is hereby granted."
