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Violation Tracker UK Individual Case

Company: Morgan Stanley & Co. International plc
Current Parent CompanyMorgan Stanley
Parent at the Time of the Penalty Announcement: Morgan Stanley
Penalty: £5,411,149
Year: 2023
Date: 23 August, 2023
Offence Group: competition-related offences
Offence Type: energy market violation
Violation Description: Morgan Stanley admitted to breaching the REMIT enforcement regulations because it failed to take reasonable steps to prevent the use of WhatsApp instant messages, that it could not ensure were recorded and retained, by employees, when discussing energy market transactions. The company agreed to pay a £7,730,213 penalty, reduced to £5,411,149 for early settlement.
Settlement Type: Settlement with Ofgem
Agency: Office of Gas and Electricity Markets
HQ Country of Parent: United States
Ownership Structure of Parent: publicly traded
Major Industry of Parent: financial services
Specific Industry of Parent: financial services
Source of Data(click here)