Morgan Stanley Smith Barney LLC (:MSSB), a registered Futures Commission Merchant and a division of the investment brokerage firm Morgan Stanley ( MS ) settled Commodity Futures Trading Commission (:CFTC) charges for $490,000 million. CFTC fined Morgan Stanley as investigations revealed the company's futures trading unit violated rules regarding the management of overseas futures and option customers' secured funds. The Probe CFTC alleges that in Apr 2013 Morgan Stanley's trading unit inappropriately moved $16 million from customer funds bank account, which led to a $9.27 million shortage in MSSB's secured funds. Though the company took corrective measures the following day after it became aware of the matter, such an act is considered to be a breach of rules. Following this, MSSB adopted several changes in its policies and procedures owing to recommendations by an independent auditor.