by Reuters
Morgan Stanley was charged with "dishonest and unethical conduct" by
Massachusetts' top securities regulator 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.
Click here for the full article.
Source: NBC News
No comments:
Post a Comment