Morgan Stanley is being fined $1 million by an independent regulator for matters involving corporate and agency bonds and municipal bonds. The Financial Industry Regulatory Authority said Thursday that the firm is being fined the $1 million, and being ordered to pay $188,000 in restitution plus interest, for failing to provide best execution in certain customer transactions involving corporate and agency bonds, and failing to provide a fair and reasonable price in certain customer transactions involving municipal bonds. FINRA said that the restitution payment is in additional to restitution that Morgan Stanley previously paid to customers for transactions covered by the settlement. More on Bloomberg BusinessWeek here.
