EPA v. Morgan Stanley

Case summary

This case involves the use by Morgan Stanley Capital Group Inc. ( Morgan Stanley ) of 42,750 invalid Renewable Identification Numbers (RINs) to meet its renewable volume obligation (RVO) under the Renewable Fuel Standards (RFS), promulgated under the Clean Air Act (CAA). The (RFS) program requires producers or importers of renewable fuel to generate fuel credits, known as RINs, in proportion to the amount and type of renewable fuel they produced or imported. The RFS Program also requires that non-renewable fuel refiners and importers, known as obligated parties, and renewable fuel exporters obtain valid RINs and retire those RINs each year by submitting them to the EPA. Congress adopted the RFS Program to reduce the nation's dependence on foreign oil, help grow the nation's renewable energy industry and achieve significant greenhouse gas emissions reductions. The EPA is charged with developing the RFS program and enforcing its requirements. As part of the settlement with EPA, Morgan Stanley paid a $4,275 civil penalty. In addition, Astra removed the invalid RINs from its 2010 RFS annual compliance report and resubmitted the reports to EPA. For more information, see the RFS webpage at http://www.epa.gov/enforcement/air/renewable-fuels/fuel-novs.html.

Defendants (1)

• Morgan Stanley Capital Group Inc.Named in complaintNamed in settlement

Facilities (1)

• MORGAN STANLEY

  2000 WESTCHESTER AVE, PURCHASE, NY, 10577

  Registry ID: 110008038088

Statutes cited

• CAA 211 — Regulation of Fuels - Motor Vehicle and Engine Fuels

Enforcement conclusions (1)

• Morgan Stanleyentered 2012-04-18

  Primary law: CAA

  Federal penalty: $4,275

Timeline (4 milestones)

• 2012-04-18Final Order Issued
• 2012-04-18Complaint Filed/Proposed Order
• 2012-05-24Enforcement Action Closed
• 2012-09-22Enforcement Action Data Entered