Morgan Stanley Agrees To Settle ETF Violations

Law360, New York (July 30, 2013, 8:11 PM EDT) -- Morgan Stanley & Co. LLC has agreed to pay $100,000 to the New Jersey Bureau of Securities to settle violations of New Jersey securities laws and regulations incurred by the sale of nontraditional exchange-traded funds, according to a Tuesday statement.

New Jersey’s Bureau of Securities and Division of Consumer Affairs jointly announced the settlement, which is the culmination of the Bureau’s investigation of Morgan Stanley’s alleged failure to adequately train its financial advisers about nontraditional ETFs, failure to implement supervision of nontraditional ETF sales, and solicitation...
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