4 Financial Stock Stories Gaining Thursday Traction
Morgan Stanley (NYSE:MS): Current price $26.18
On Thursday, the Financial Industry Regulatory Authority said that Morgan Stanley and Morgan Stanley Smith Barney will pay a $1 million penalty as well as compensate harmed investors. This is to resolve civil charges that the bank did not provide customers with the optimal market prices for some corporate and municipal bonds.
The regulator said that the parties would pay the fine, along with about $188,000 in restitution for the various pricing violations, which happened between January 2008 through September 2011. Morgan Stanley resolved the case without admitting or denying the charges by FINRA, which self-polices the brokerage industry.
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