Discipline: Some Morgan Stanley Structured Product Purchases Failed to Comply with Internal Guidelines

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The Financial Industry Regulatory Authority (FINRA) has found Morgan Stanley & Co. LLC in violation of several industry rules, findings which the Firm has accepted for the purposes of proposing a settlement of alleged rule violations and ensuring FINRA will not bring any future actions against Morgan Stanley for the following violations.

Between September 2006 and July 2007, Morgan Stanley was found not to have had a proper structure in place to supervise structured product sales. Morgan Stanley additionally made unsuitable recommendations of structured product purchases to their retail customers between September 2006 and August 2008, which has resulted in censure and a fine of $600,000.

Morgan Stanley had previously been censured and fined $100,000 by FINRA on April 26, 2011 for failing to establish procedures and a supervisory system to ensure appropriate sales charge discounts for investments.

If you suspect you were involved in an unsuitable recommendation of structured product purchase in your dealing with broker-dealer Morgan Stanley, please call The Law Offices of Jonathan W. Evans & Associates for an investigation and consultation.

News: Morgan Stanley Accepts Findings of FINRA Rule Violations