The regulatory arm of the New York Stock Exchange has fined Morgan Stanley for supervisory and control violations in connection with an erroneous $10.8bn (€8.3bn) trade.

NYSE Regulation fined Morgan Stanley $300,000 for not having adequate controls in place to validate order accuracy and to establish limits on block orders that exceed certain parameters after a trader entered an order to buy $10.8bn in stocks instead of $10.8m. Morgan Stanley accepted the fine and a censure without admitting or denying any wrongdoing.