Defendant Name: Morgan Stanley Smith Barney LLC

Defendant Type: Subsidiary of Public Company
Public Company Parent: Morgan Stanley
SIC Code: 6712
CUSIP: 61744644

Initial Case Details

Legal Case Name In the Matter of Morgan Stanley Smith Barney LLC
First Document Date 12-May-2020
Initial Filing Format Administrative Action
File Number 3-19793
Allegation Type Investment Advisers/Investment Companies

Violations Alleged

Sections 206(2), 206(4) Advisers Act; Rule 206(4)-7 Advisers Act


First Resolution Date 12-May-2020
Headline Total Penalty and Disgorgement

See Related Documents

Related Documents:

34-88856 12-May-2020 Administrative Proceeding
Order Instituting Administrative and Cease-and-Desist Proceedings, Pursuant to Section 15(b) of the Securities Exchange Act of 1934 and Sections 203(e) and 203(k) of the Investment Advisers Act of 1940, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
On May 12, 2020, the SEC instituted settled cease-and-desist proceedings against Morgan Stanley Smith Barney LLC ("MSSB"). The SEC stated: "These proceedings arise out of marketing and client communications related to the services rendered and costs incurred in MSSB's retail wrap fee programs, which were misleading to certain clients, and MSSB's failure to adopt and implement written policies and procedures reasonably designed to prevent violations of the Advisers Act."
2020-109 12-May-2020 Press Release--Administrative Proceeding
SEC Charges Morgan Stanley Smith Barney With Providing Misleading Information to Retail Clients
The SEC stated that "Morgan Stanley Smith Barney LLC (MSSB) has agreed to settle charges that it provided misleading information to clients in its retail wrap fee programs regarding trade execution services and transaction costs. MSSB has agreed to pay a $5 million penalty that will be distributed to harmed investors."
34-88969 28-May-2020 Administrative Proceeding
Order Appointing Tax Administrator
The Commission stated "Miller Kaplan, pursuant to and in accordance with the Omnibus Order, is appointed the Tax Administrator for the QSF."
34-89383 23-Jul-2020 Administrative Proceeding
Extension Order
The Commission ordered that: "the Division’s request for an extension of time until April 30, 2021 to submit a Proposed Plan of Distribution is granted."
34-91737 30-Apr-2021 Administrative Proceeding
Second Extension Order
The SEC stated: "[F]or good cause shown, IT IS HEREBY ORDERED that the Division's request for an extension of time until July 30, 2021 to submit a Proposed Plan of Distribution is granted."
34-92096 03-Jun-2021 Administrative Proceeding
Order Appointing Fund Administrator and Setting Administrator's Bond Amount
The Commission ordered that: "Analytics is appointed as the fund administrator . . . and shall obtain a bond . . . in the amount of $5,000,000."