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Morgan Stanley fined $13M by FINRA

Published 09/25/2017, 11:03 AM
© Reuters.  Morgan Stanley fined $13M by FINRA
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  • FINRA has ordered Morgan Stanley (MS -0.7%) to pay $13M in fines and restitution to clients for inadequately supervising certain short-term trades.
  • The activity took place between January 2012 and June 2015.
  • Hundreds of Morgan Stanley brokers advised thousands of clients to sell unit investment trusts before the products had matured and to roll them over into new ones.
  • Now read: Bank Of America, JPMorgan (NYSE:JPM) And Morgan Stanley Look Hard To Knock-Off In Wealth Management


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