FINRA Orders Morgan Stanley To Pay $1M To Fired Manager

Law360, New York (January 7, 2013, 3:36 PM EST) -- Morgan Stanley Smith Barney must pay $1 million to a former manager after a Financial Industry Regulatory Authority arbitration panel found the firm liable Friday for wrongly terminating him.

Gregory Torretta initially asked for $8 million to $9 million — $4.5 million after taxes — in the claim he filed in May 2011 with FINRA. The sum was meant to make up for wages he lost when he was fired from his role as a complex manager for Morgan Stanley's Garden City complex in New York...
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