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Aidikoff, Uhl & Bakhtiari announces investigation of Morgan Stanley trading platform shutdown

Morgan Stanley Wealth Management’s technology systems crumpled today, preventing brokers and clients from viewing account information and placing orders. “[O]rder entry and order status continues to experience issues and may be unavailable,” the company said in a message sent to wealth management “field and operations” employees at 12:49 pm Eastern Standard Time. In a subsequent […]

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Morgan Stanley Exits Broker Protocol

Morgan Stanley which saw its total advisor headcount drop slightly in the third quarter, says it will leave the Protocol for Broker Recruiting as part of its drive to make new investments in its advisors. The protocol, created in 2004, limits litigation among member firms that sign on and agree to a set of rules […]

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Morgan Stanley agrees to $13 million fine and restitution for supervisory lapses of UIT trading

FINRA ordered Morgan Stanley to pay $13 million in fines and restitution to clients for failing to properly supervise trades that increased charges and fees to customers of certain investment funds.  FINRA said that Morgan Stanley provided insufficient guidance to its staff on how to detect unsuitable short-term trades of unit investment trusts, or UITs. […]

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