Morgan Stanley Fined $675,000 for Failing to Address Short Positions in Tax-Exempt Municipal Bonds
Morgan Stanley & Co. and Morgan Stanley Smith Barney LLC of New York submitted a Letter of Acceptance, Waiver and Consent to the Department of Enforcement of the Financial Industry Regulatory Authority (FINRA) for allegedly failing to supervise and implement adequate written procedures to comply with Municipal Securities Rulemaking Board (MSRB) rules relating to short positions in tax-exempt municipal bonds.
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