FINRA Fines Morgan Stanley Over Conflict Disclosures

Law360, New York (August 10, 2010, 1:24 PM EDT) -- Morgan Stanley & Co. Inc. has agreed to pay $800,000 to settle claims by the Financial Industry Regulatory Authority that it neglected to disclose its relationships to the companies covered in the investment giant's research reports.

In addition to the fine and a censure, the settlement requires Morgan Stanley to review its reports and certify every six months that they comply with FINRA's research analyst conflict-of-interest rules, FINRA said Tuesday.

"This case strikes at the heart of FINRA's research disclosure requirements, which were written in response...
To view the full article, register now.