Morgan Stanley to pay $8 mln to settle U.S. SEC charges
WASHINGTON Feb 14 Morgan Stanley has agreed to pay $8 million dollars to settle charges related to single inverse ETF investments that the firm had recommended to clients, U.S. financial regulators said on Tuesday.
In a statement, the Securities and Exchange Commission said Morgan Stanley had admitted to wrongdoing, adding that the company had "recommended securities with unique risks and failed to follow its policies and procedures to ensure they were suitable for all clients." (Reporting by Susan Heavey)