FINRA Fines Morgan Stanley $2 Million

    

The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Morgan Stanley & Co. LLC $2 million for short interest reporting and short sale rule violations that spanned a period of more than six years, and for failing to implement a supervisory system reasonably designed to detect and prevent such violations.

Thomas Gira, Executive Vice President, FINRA Market Regulation, said, "Short interest reporting continues to provide investors with important transparency into the level of short selling in a particular issue. Accordingly, it is imperative that this information be timely and accurately reported. Similarly, a fundamental requirement for compliance with the short sale rule is that firms properly track their short positions."

More here: http://www.finra.org/newsroom/2015/finra-fines-morgan-stanley-2-million-short-interest-reporting-and-short-sale-rule

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