
NASD ordered three firms-Morgan Stanley & Co, J.P. Morgan Securities, Inc., and Goldman, Sachs & Co.-to pay more than $2.9 million following sales of restricted securities in violation of lock-up agreements as required by NASD rules. For more info visit https://www.globalcustodian.com/morgan-stanley-to-pay-2-7-million-for-ipo-lock-up-violations/