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Morgan Stanley to Pay $15M Over Advisors Who Stole Millions From Clients: SEC
News December 09, 2024 at 09:24 PM
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What You Need To Know
- Over a seven-year period, three advisors misappropriated more than $1.7 million through ACH payments, the SEC says.
- The firm failed to monitor wire and externally initiated ACH transfers, the SEC said.
- Morgan Stanley says it fired the advisors, compensated affected clients and enhanced its control framework.
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