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Morgan Stanley Fined $1 Million, Ordered to Pay $188,000 in Restitution for Bond Pricing Failure

FINRA fined Morgan Stanley $1 million and ordered the firm pay $188,000 in restitution to customers the industry says were adversely impacted by Morgan Stanley's failure to conduct adequate due diligence in setting sales prices for certain bond transactions.

According to FINRA, Morgan Stanley failed to use reasonable diligence in pricing bond transactions, which may have contributed to the firm's ultimate failure over the course of 281 corporate, agency and municipal bond transactions to purchase or sell bonds at reasonable or favorable prices under current market conditions.

In announcing the sanction, regulators noted that firms have a responsibility to ensure that customers of bond transactions receive "execution prices that are consistent with prices available in the marketplace."

FINRA reiterated that failure to use such reasonable diligence has and will continue to result in sanctions, including fines and ordered restitution or reimbursement.

If you have invested with Morgan Stanley or with any other firm whose failure to set fair bond transaction prices or other neglect of reasonable diligence has proven harmful to your investments or interests, please call The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for an investigation and consultation.

News Release: FINRA Fines Morgan Stanley $1 Million and Orders Restitution of $188,000 for Best Execution and Fair Pricing Violations in Customer Bond Transactions (FINRA)

Categories: Discipline, FINRA, Bonds
The Law Offices of Jonathan W. Evans & Associates - California Securities Fraud Attorney
Located at 12711 Ventura Boulevard, Suite #440 Studio City, CA 91604. View Map
Phone: (800) 699-1881 | Local Phone: (818) 760-9880.