July 9, 2020 Comments Off on Morgan Stanley Censured & Fined $875,000 Blog, Current Investigations

Morgan Stanley Censured & Fined $875,000

Morgan Stanley Censured & Fined $875,000, featured by top securities fraud attorneys, The White Law Group

FINRA sanctions Morgan Stanley for allegedly inaccurate securities trading data.

According to the Financial Industry Regulatory Authority (FINRA), the regulator  says it has settled with Morgan Stanley for $875,000 over allegedly inaccurate securities trading data.

From February 2014 through April 2017, the firm allegedly submitted at least 869 blue sheets that contained inaccuracies to both FINRA and the SEC , purportedly misreporting data on at least 156,678 options transactions, according to a Letter of Acceptance, Waiver and Consent (AWC) posted on FINRA’s website today.

According to the AWC, FINRA says it first learned that there were errors in late 2016 when it found blue sheet submissions that were inconsistent with customer account statements. Morgan Stanley determined that the cause of the inaccuracies was human error, according to FINRA.

Further, FINRA found other inconsistencies that led to the discovery of two coding issues that caused Morgan Stanley to misreport on whether options transactions were open or closed.

Morgan Stanley agreed to the censure and fine without admitting or denying the findings, according to the AWC.

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This information is all publicly available and provided to you by The White Law Group.

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Franklin, Tennessee.

We represent investors in FINRA arbitration claims in all 50 states. If you are concerned about your investments with Morgan Stanley, you may be able to file a complaint against the brokerage firm. Please call the securities fraud attorneys at The White Law Group at 888-637-5510 for a free consultation.

For more information on The White Law Group, and its representation of investors, please visit www.WhiteSecuritiesLaw.com. The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Franklin, Tennessee.

 

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