Financial Times FT.com

Lehman Brothers

M Stanley compliance ‘shambles’ cited in case

By Tom Mitchell

Published: July 24 2009 23:30 | Last updated: July 24 2009 23:30

Internal compliance systems at Morgan Stanley’s Hong Kong office were “haphazard”, “inefficient” and “hopelessly inadequate”, according to the prosecution in a high-profile insider trading case.

Du Jun, a former Morgan Stanley managing director, faces 10 counts of insider trading after he bought shares in Citic Resources, a unit of China’s largest state investment company.

You have viewed your allowance of free articles. If you wish to view more, click the button below.

Read this