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Morgan Stanley Rep Violated Reg BI With ETF Sales: FINRA
News July 18, 2024 at 03:03 PM
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What You Need To Know
- The rep bought ETFs with upfront sales charges that the customers would not have had to pay if purchased in advisory accounts, FINRA says.
- In certain cases, the rep used the proceeds to make additional purchases, which resulted in additional sales charges.
- Morgan Stanley identified the rep's misconduct and reversed the transactions.
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