Morgan Stanley to Pay $950K to Finra, Customers Over Alleged Churning

August 17, 2020

Finra says Morgan Stanley has agreed to pay $950,000 over alleged failures to supervise one of its brokers who churned client accounts.

Source: FinancialAdvisoriq.com | By Alex Pedalka | August 14, 2020

From January 2012 through December 2017, the company allegedly failed to take reasonable steps to review short-term trades recommended by a Morgan Stanley registered representative Finra only identifies as “KG,” according to a letter of acceptance, waiver, and consent published by the industry’s self-regulator.

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