Enforcement

Morgan Stanley agreed to pay $4 million to settle U.S. regulatory claims that it lacked adequate risk controls, allowing a rogue employee at a client firm to engage in fraudulent trading.

International regulators proposed a common template Tuesday for banks to use when disclosing their long-term liquidity compliance plans, which regulators say will help market participants assess and compare banks' plans to one another.

Almost a year after the Volcker Rule was finalized, banks still have questions about which regulators are taking the lead on the rule and how the supervisory and enforcement process will work.