Morgan Stanley to Pay $8 Million Admit Wrongdoing to Settle SEC ETF Charges

Morgan Stanley Smith Barney will pay an $8 million penalty and admit wrongdoing to settle charges related to single inverse exchange traded funds (ETF) investments it recommended to advisory clients. The Securities and Exchange Commission (SEC) order finds that Morgan Stanley did not adequately implement its policies and procedures to ensure that clients understood the risks involved with purchasing inverse ETFs.

— source


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