{"id":5711,"date":"2014-11-05T00:00:00","date_gmt":"2014-11-05T06:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2014\/11\/morgan_stanley_puts_aside_50m_1"},"modified":"2022-05-06T12:00:08","modified_gmt":"2022-05-06T17:00:08","slug":"morgan-stanley-puts-aside-50m-1","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/morgan-stanley-puts-aside-50m-1\/","title":{"rendered":"Morgan Stanley Puts Aside $50M for Clients Who Didn\u2019t Get Prospectuses for Purchased Securities"},"content":{"rendered":"

The wealth-management arm of Morgan Stanley (MS) <\/a>has set aside $50 million to pay back clients who didn\u2019t get prospectuses after buying certain securities. The firm recently realized that a number of electronic prospectuses were never delivered to clients this year, as well as last.<\/p>\n

Brokerages are required to send investors their prospectuses in a timely fashion. Because of the oversight, Morgan Stanley is now offering affected clients the chance to rescind the securities they purchased and receive refunds. The brokerage firm also said that it would reimburse clients for trades that lost value.<\/p>\n

The firm had thought the oversight would cause it around $20 million. However, due to a raised level of rescission offer acceptances last month, that amount has more than doubled.<\/p>\n

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

The wealth-management arm of Morgan Stanley (MS) has set aside $50 million to pay back clients who didn\u2019t get prospectuses after buying certain securities. The firm recently realized that a number of electronic prospectuses were never delivered to clients this year, as well as last. Brokerages are required to send investors their prospectuses in a […]<\/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":[3752,3787,4001],"tags":[],"class_list":["post-5711","post","type-post","status-publish","format-standard","hentry","category-financial-firms","category-morgan-stanley","category-mortgage-fraud"],"yoast_head":"\nMorgan Stanley Puts Aside $50M for Clients Who Didn\u2019t Get Prospectuses for Purchased Securities — Investor Lawyers Blog — November 5, 2014<\/title>\n<meta name=\"description\" content=\"The wealth-management arm of Morgan Stanley (MS) has set aside $50 million to pay back clients who didn\u2019t get prospectuses after buying certain — November 5, 2014\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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