
NASD sanctioned Morgan Stanley DW Inc. For giving preferential treatment to certain mutual fund companies in return for millions of dollars in brokerage commissions. In conjunction with a related action filed by the Securities and Exchange Commission (SEC), Morgan Stanley agreed to resolve the NASD and SEC actions by paying $50 million in civil penalties and surrendered profits. The penalty was also announced by the SEC; For more info visit https://www.sec.gov/news/press/2003-159.htm https://web.archive.org/web/20041019232746/http://www.nasdr.com/news/pr2003/release_03_051.html