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NYSE Fines Five Firms For Trading Violations

Law360 (June 15, 2007, 12:00 AM EDT) -- Morgan Stanley & Co.'s failure to supervise four brokers has resulted in a censure and a fine from the New York Stock Exchange, one of five doled out to firms by the NYSE in June.

A NYSE hearing board ruled on June 14 that Morgan Stanley engaged in unsuitable block trading, for which the firm was censured. The NYSE board also found that Morgan Stanley had failed to adequately oversee brokers John Steigerwald and two others.

One of the complaints against the firm arose from trades...
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