NU Online News Service, Nov. 17, 2003, 10:30 a.m. EST – The brokerage firm Morgan Stanley, Inc., New York, is expected to pay a fine of around $50 million to settle a Securities and Exchange Commission complaint that it failed to disclose improper payments from investment companies to sell their mutual funds, according to a report in today’s New York Times.

The complaint reportedly also alleged that Morgan Stanley paid incentives to its brokers to sell certain funds from investment companies that directed business to the brokerage firm.