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Morgan Stanley Has Been Charged With Running Unethical Sales Contests

October 4, 2016

Via: Fortune
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Morgan Stanley was charged with “dishonest and unethical conduct” by Massachusetts’ top securities regular on Monday for having pushed its brokers to sell loans to their clients.

Secretary of the Commonwealth William Galvin alleges that the bank ran high-pressured sales contests in Massachusetts and Rhode Island where brokers could earn thousands of dollars for selling so-called “securities based loans.” (SBLs)

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