
The Financial Industry Regulatory Authority fined Morgan Stanley & Co. $3 Million - and ordered it to pay more than $4.2 million in restitution to 90 Rochester, NY-area retirees - to resolve charges that its supervisory system failed to detect and prevent brokers from persuading Eastman Kodak Company and Xerox Corporation employees to take early retirement based upon unrealistic promises of consistently high investment returns and by espousing unsuitable investment strategies. For more info visit https://www.finra.org/media-center/news-releases/2009/morgan-stanley-pay-more-7-million-resolve-finra-charges-relating