
The Financial Industry Regulatory Authority fined Morgan Stanley Smith Barney LLC $3.25 million and required the firm to pay approximately $9.78 million in restitution to more than 3,000 affected customers for failing to supervise its representatives' short-term trades of unit investment trusts (uits). For more info visit https://www.finra.org/media-center/news-releases/2017/finra-sanctions-morgan-stanley-13-million-failing-related-uits