Enforcement Actions
Financial Industry Regulatory Authority (FINRA)
CASES OF NOTE
2009
NOTE: Stipulations of Fact and Consent to Penalty (SFC); Offers of Settlement (OS); and Letters of Acceptance Waiver, and Consent (AWC) are entered into by Respondents without admitting or denying the allegations, but consent is given to the described sanctions & to the entry of findings. Additionally, for AWCs, if FINRA has reason to believe a violation has occurred and the member or associated person does not dispute the violation, FINRA may prepare and request that the member or associated person execute a letter accepting a finding of violation, consenting to the imposition of sanctions, and agreeing to waive such member's or associated person's right to a hearing before a hearing panel, and any right of appeal to the National Adjudicatory Council, the SEC, and the courts, or to otherwise challenge the validity of the letter, if the letter is accepted. The letter shall describe the act or practice engaged in or omitted, the rule, regulation, or statutory provision violated, and the sanction or sanctions to be imposed.
December 2009
Morgan Stanley & Co. Incorporated
AWC/2007011134001/December 2009
Branch offices utilized communications that failed to provide either adequate balancing language or a sound basis for evaluating the information provided. The communications contained statements that were promissory of successful investment results and contained exaggerated, misleading or unwarranted statements. The firmís communications contained oversimplified and incomplete comparisons, failed to disclose the member firmís name, and failed to provide required Securities and Exchange Commission (SEC) or Securities Industry Protection Corporation (SIPC) disclosures in conformance with SEC and/or SIPC rules.
Morgan Stanley & Co. Incorporated: Censured; Fined $120,000
Tags:  Communications    SIPC     |    In: Cases of Note : FINRA
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