SEC Charges Morgan Stanley Smith Barney for Policy Deficiencies That Resulted in Failure to Prevent and Detect Its Financial Advisors' Theft of Investor Funds
December 14, 2024
December 14, 2024
WASHINGTON, Dec. 14 -- The Securities and Exchange Commission issued the following news release:
The Securities and Exchange Commission today charged Morgan Stanley Smith Barney LLC (MSSB) with failing to reasonably supervise four investment adviser and registered representatives (hereafter, financial advisors) who stole millions of dollars of advisory clients' and brokerage customers' funds and for failing to adopt policies and procedures reasonably designed to prevent and detect s . . .
The Securities and Exchange Commission today charged Morgan Stanley Smith Barney LLC (MSSB) with failing to reasonably supervise four investment adviser and registered representatives (hereafter, financial advisors) who stole millions of dollars of advisory clients' and brokerage customers' funds and for failing to adopt policies and procedures reasonably designed to prevent and detect s . . .