Morgan Stanley charged with running unethical sales contests - regulator

Morgan Stanley charged with running unethical sales contests - regulator
 

Morgan Stanley (MS.N) was charged with "dishonest and unethical conduct" by Massachusetts' top securities regular on Monday for having run high-pressured sales contests in Massachusetts and Rhode Island.
Secretary of the Commonwealth William Galvin charged that Morgan Stanley brokers pushed so-called "securities based loans" to boost business by running contests that were prohibited by Morgan Stanley. He also charged that it took top executives nearly one year to discover the violation and that they still did not shut the contest down immediately.
"This complaint... read more

 
3 October 2016 in Business, Views: 47
Source: Reuters
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