Reported 2 days ago
Morgan Stanley will pay $15 million to resolve allegations from the SEC that its Smith Barney unit inadequately safeguarded customer funds, allowing four former employees to withdraw unauthorized amounts totaling millions from 2015 to 2022. Although the firm did not admit wrongdoing, it agreed to improve its compliance measures and has taken steps to address and compensate affected clients. The SEC acknowledged Morgan Stanley's cooperation and remedial actions in settling the claims.
Source: YAHOO