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BRIEF-Morgan Stanley fined $5 million by FINRA for supervisory failures related to 83 IPOs
May 6, 2014 / 1:45 PM / 4 years ago

BRIEF-Morgan Stanley fined $5 million by FINRA for supervisory failures related to 83 IPOs

May 6 (Reuters) - * Finra says fines Morgan Stanley smith barney $5 million for supervisory

failures related to sales of shares in 83 ipos to retail customers * Finra says Morgan Stanley sold shares in ipos, including Facebook Inc

and Yelp Inc without properly training sales staff * Finra says Morgan Stanley staff weren’t trained to distinguish between

‘indications of interest’ and ‘conditional offers’ in soliciting potential

investors * Finra says Morgan Stanley neither admitted nor denied charges; regulator says

alleged wrongdoing took place from February 16, 2012 to may 1, 2013

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