Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

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Friday, June 15, 2007

NYSE Fines Morgan Stanley for Churning in Guardian Accounts

The NYSE fined Morgan Stanley $500,000 for failing to supervise brokers who engaged in excessivet trading in guardian accounts for the benefit of injured children and elderly clients.  Seven accounts generated over $500,000 in commissions.  See WSJ, Morgan Stanley to Pay Fine in Broker Case.

http://lawprofessors.typepad.com/securities/2007/06/nyse_fines_morg.html

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