Morgan Stanley fined $800,000 by Finra for failing to disclose potential conflicts of interest
By APTuesday, August 10, 2010
Morgan Stanley fined over lack of disclosure
NEW YORK — Morgan Stanley is being fined $800,000 for failing to disclose potential conflicts of interest in its analyst research notes.
The Financial Industry Regulatory Authority announced the fine Tuesday. Morgan Stanley self-reported the violations to FINRA, an independent regulator of investment companies.
FINRA says Morgan Stanley didn’t properly alert clients about relationships the bank might have with the companies being covered in the research notes. Big investment banks have separate divisions that provide research and analysis to customers about publicly traded companies.
Morgan Stanley failed to provide proper disclosures between April 2006 and June 2010.
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