The Securities and Exchange Commission (SEC) reports settling charges against Morgan Stanley Smith Barney LLC (MSSB) “stemming from the firm’s extensive failures, over a five-year period, to protect the personal identifying information, or PII, of approximately 15 million customers.” MSSB neither admits nor denies the charges. However, it has agreed to pay a $35 million… Read More >>
Morgan Stanley Settles Wrap-Fee Case with SEC
Morgan Stanley Smith Barney (MSSB) is settling charges that it provided misleading information to retail clients in its retail wrap fee programs regarding trade execution services and transaction costs, and the firm will pay a $5 million penalty that will be distributed to harmed investors, the U.S. Securities and Exchange Commission (SEC) reports. The commission’s… Read More >>
Morgan Stanley Penalized Again for Improper ETF Sales
Morgan Stanley Smith Barney (MSSB) will pay an $8 million penalty and has admitted wrongdoing to settle charges related to single inverse Exchange Traded Fund (ETF) investments it recommended to advisory clients, according to the SEC, which finds that Morgan Stanley “did not adequately implement its policies and procedures to ensure that clients understood the… Read More >>
