FINRA fines Morgan Stanley for weak security
The Financial Industry Regulatory Authority (FINRA) has fined Morgan Stanley and Scottrade Inc c. $1mn combined for having poor supervisory systems for catching fraud and for failing to alert FINRA of the issue in 2011.
By Dani Kass (June 22, 2015, 2:46 PM EDT) -- The Financial Industry Regulatory Authority has fined Morgan Stanley and Scottrade Inc. nearly $1 million combined after both were found to have poor supervisory systems for catching fraud and failed to act when alerted by FINRA of the problem in 2011, the regulator said Monday....

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