Morgan Stanley to pay $7.5 million over customer protection violations

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 on Tuesday. The Securities and Exchange Commission said Morgan Stanley will settle the case without admitting or denying the charges. "Morgan Stanley takes its obligations to protect customer assets very seriously, which is why the firm moved promptly to rectify the issues addressed in the