{"id":4490,"date":"2007-07-09T14:31:36","date_gmt":"2007-07-09T14:31:36","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2007\/07\/morgan_stanley_fined_by_state_1"},"modified":"2021-09-20T15:41:39","modified_gmt":"2021-09-20T20:41:39","slug":"morgan-stanley-fined-by-state-1","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/morgan-stanley-fined-by-state-1\/","title":{"rendered":"Morgan Stanley Fined By State Regulator for Failure to Supervise Mutal Fund Sales"},"content":{"rendered":"

\t\t\t\tMorgan Stanley & Co. Inc. agreed to pay a $250,000 civil penalty to end claims by Rhode Island Regulators that it failed to supervise sales representatives who engaged in unethical and dishonest practices in the sale of mutual funds and variable annuities. <\/p>\n

According to the director of the Rhode Island Department of Business Regulation, the practices in question took place in Morgan Stanley’s Providence office. Morgan Stanley agreed to the penalty and will undertake a comprehensive review of the practices of the two sales representatives involved to ensure that there are no other violations of the securities statutes and rules involving other clients.<\/p>\n

The state’s superintendent of securities said the investigation uncovered securities laws violations that occurred over a three-year period and involved a lack of supervision and oversight of the sales representatives. “Morgan Stanley failed to ensure that there were adequate procedures in place reasonably designed to prevent these unlawful practices,” she said.<\/p>\n

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

Morgan Stanley & Co. Inc. agreed to pay a $250,000 civil penalty to end claims by Rhode Island Regulators that it failed to supervise sales representatives who engaged in unethical and dishonest practices in the sale of mutual funds and variable annuities. According to the director of the Rhode Island Department of Business Regulation, the […]<\/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":[3787,3799,3789],"tags":[],"class_list":["post-4490","post","type-post","status-publish","format-standard","hentry","category-morgan-stanley","category-mutual-funds","category-stockbroker-regulation"],"yoast_head":"\nMorgan Stanley Fined By State Regulator for Failure to Supervise Mutal Fund Sales — Investor Lawyers Blog — July 9, 2007<\/title>\n<meta name=\"description\" content=\"Morgan Stanley & Co. 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