Usman Shah
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Morgan Stanley Fined By FINRA

Morgan Stanley (NYSE: MS) gets fined for $1 million dollar by The Financial Industry Regulatory Authority (FINRA) for failure to ensure the best prices and execution for 281 transactions. Morgan Stanley neither denied or admitted to the charges made by FINRA but will pay the fine, sound like guilty to me. They will also pay $188,000 to the clients that took losses due to unfair prices. This is the second time in two years Morgan Stanley has been fined for the same reason. Last time the was in November 2011 and the fine was $1 million with $371,000 for the clients. Fool me once, shame on you; fool me twice, shame on me. FINRA needs to take better action against this $1 million dollar isn't a big amount for companies like Morgan Stanley.