SEC
Whistleblower
Attorneys

November 07, 2019

Morgan Stanley Smith Barney LLC

Trading and Pricing

SANCTION AMOUNT: $1545768

Defendants: Morgan Stanley Smith Barney LLC

Respondent MSSB agreed to settle charges that it misrepresented its share class selection process in connection with investment recommendations made to certain retail retirement and charitable organization brokerage customers. In one example, MSSB allegedly told investors that it used a "share class selection calculator," but the calculator experienced operating errors and did not provide the most beneficial share class in certain circumstances.

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