December 22, 2015
Morgan Stanley Investment Management Inc., Sheila Huang
Trading and Pricing
SANCTION AMOUNT: $8,982,534
Defendants: Morgan Stanley Investment Management Inc.
Settlement of charges by investment firm that one of its portfolio managers conducted unlawful prearranged trading known as parking, favoring certain advisory client accounts over others. In this case, the portfolio manager allegedly sold fixed income securities that needed to be liquidated to a certain broker-dealer with whom she had prearranged to repurchase the securities, for the initial sale price plus a minimal markup in order to buyback the positions into other accounts advised by MSIM.
- Key Docs
- Official SEC press release