Unamused, the NASD filed a complaint earlier this week. Morgan Stanley, they claim, had backed up their systems on August 30, 2001 and has since that time been systematically deleting emails that would have been relevant to the investigation into whether or not Morgan Stanley was routinely overcharging customers. This would also not be the first time Morgan Stanley has dragged its collective wingtipped heels when asked to turn over potentially incriminating details to regulators. The SEC has already slapped the firm on the same issue.

Read on at The Washington Post.
-- MDT

Labels: disclosure of evidence, Morgan Stanley, NASD, SEC