Courtesy: Glob

NEW YORK, Sept 27 - Morgan and Stanley agreed to pay $12.5 million to resolve regulatory charges that it failed to provide arbitration plaintiffs with e-mails it said were destroyed in the Sept. 11, 2001, attacks, when in fact it had saved the e-mails on backup files.

The investment bank and brokerage will pay $9.5 million into a fund for several thousand arbitration claimants, and was assessed a $3 million fine by the Financial Industry Regulatory Authority, which announced the penalties on Thursday. The settlement also resolves charges that Morgan Stanley failed to provide supervisory materials to arbitration claimants.

Follow Up

Phase III of the “Bring them Back” campaign hits the streets of the Lower East Side.

Olympic track and field star Marion Jones has pleaded guilty to lying to federal investigators about using steroids.

The three-time Olympic gold medalist also announced her retirement from the sport on Friday.

Way to go, champ.