{"id":4464,"date":"2007-06-22T16:48:39","date_gmt":"2007-06-22T16:48:39","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2007\/06\/morgan_stanley_is_fined_500000"},"modified":"2022-03-28T14:12:11","modified_gmt":"2022-03-28T19:12:11","slug":"morgan-stanley-is-fined-500000","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/morgan-stanley-is-fined-500000\/","title":{"rendered":"Morgan Stanley is Fined $500,000 for Faulty Oversight"},"content":{"rendered":"

The New York Stock Exchange’s regulator group says that Morgan Stanley must pay $500,000 for not overseeing a group of brokers that had recommended unsuitable transactions for accounts belonging to the guardians of injured children and to retirees. The guardian accounts were for children, 10 to 18 years of age, who received medical malpractice settlements after being injured at birth or as a child.<\/p>\n

NYSE regulation started investigating the brokerage firm about three years ago. Disciplinary action has been taken against two brokers, while two other brokers and a branch manager were also investigated for misconduct.<\/p>\n

The branch manager investigated in the case is believed to have known that there were court-ordered trade restrictions for the guardian accounts but did not tell staff members about them. The court had only authorized the guardian accounts to invest in Treasury strips and bonds. Commissions and fees were to remain low, which they did not.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

The New York Stock Exchange’s regulator group says that Morgan Stanley must pay $500,000 for not overseeing a group of brokers that had recommended unsuitable transactions for accounts belonging to the guardians of injured children and to retirees. The guardian accounts were for children, 10 to 18 years of age, who received medical malpractice settlements […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3787],"tags":[],"class_list":["post-4464","post","type-post","status-publish","format-standard","hentry","category-morgan-stanley"],"yoast_head":"\nMorgan Stanley is Fined $500,000 for Faulty Oversight — Investor Lawyers Blog — June 22, 2007<\/title>\n<meta name=\"description\" content=\"The New York Stock Exchange's regulator group says that Morgan Stanley must pay $500,000 for not overseeing a group of brokers that had recommended — June 22, 2007\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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