{"id":5672,"date":"2014-08-15T00:00:00","date_gmt":"2014-08-15T05:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2014\/08\/finra_panel_orders_morgan_stan"},"modified":"2022-05-06T11:51:52","modified_gmt":"2022-05-06T16:51:52","slug":"finra-panel-orders-morgan-stan","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/finra-panel-orders-morgan-stan\/","title":{"rendered":"FINRA Panel Orders Morgan Stanley Unit to Pay Banamex Unit $4.5M Over Alleged Unauthorized Third Party Loans"},"content":{"rendered":"\n

According to a Financial Industry Regulatory Authority arbitration panel, Morgan Stanley & Co. (MS)<\/a> must pay Banco Nacional de Mexico SA unit $4.5 million for allegedly letting funds from a family\u2019s trust account be utilized for paying back third-party loans without authorization. The Mexican bank, also known as Banamex, was trustee to the account. It filed its securities arbitration case in 2012.<\/p>\n

The trust was established in 2007 with proceeds from a property that members of a family had inherited and decided to sell. Banamex and the beneficiaries of the trust worked with a Morgan Stanley (MS) broker, who ran their accounts. The trust accounts were at a Morgan Stanley banking unit. They were set up in such a way that the assets were not supposed to be used as guarantees to pay third-party loans that another family member\u2019s account had taken.<\/p>\n

Morgan Stanley is accused of compelling the trust accounts to guarantee payment of a third-party loan without getting Banamex\u2019s consent. According to the plaintiffs, the brokerage firm improperly guaranteed or recorded the trust assets for the relative, who did not belong to the trust.<\/p>\n

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

According to a Financial Industry Regulatory Authority arbitration panel, Morgan Stanley & Co. (MS) must pay Banco Nacional de Mexico SA unit $4.5 million for allegedly letting funds from a family\u2019s trust account be utilized for paying back third-party loans without authorization. The Mexican bank, also known as Banamex, was trustee to the account. It […]<\/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":[3953,3752,3739,3787],"tags":[],"class_list":["post-5672","post","type-post","status-publish","format-standard","hentry","category-arbitration-rulings","category-financial-firms","category-finra","category-morgan-stanley"],"yoast_head":"\nFINRA Panel Orders Morgan Stanley Unit to Pay Banamex Unit $4.5M Over Alleged Unauthorized Third Party Loans — Investor Lawyers Blog — August 15, 2014<\/title>\n<meta name=\"description\" content=\"According to a Financial Industry Regulatory Authority arbitration panel, Morgan Stanley & Co. 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