Defendant Name:
Morgan Stanley Smith Barney LLC
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
Morgan Stanley
SIC Code:
6211
CUSIP:
61744644
Document Reference:
2018-124
Document Details
Legal Case Name
In the Matter of Morgan Stanley Smith Barney LLC
Document Name
SEC Charges Morgan Stanley in Connection With Failure to Detect or Prevent Misappropriation of Client Funds
Document Date
29-Jun-2018
Document Format
Administrative Proceeding
Allegation Type
Investment Advisers/Investment Companies
Document Summary
On June 29, 2018, the SEC issued instituted administrative proceedings against Morgan Stanley Smith Barney (MSSB), finding that "MSSB failed to have reasonably designed policies and procedures in place to prevent its advisory representatives from misusing or misappropriating funds from client accounts. The order further finds that although MSSB's policies provided for certain reviews of disbursement requests, the reviews were not reasonably designed to detect or prevent such potential misconduct."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Censured
Other Compliance Related Undertaking
Monetary Penalties:
Civil Penalty
Individual:
$3,600,000.00
Shared: