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U.S. firm pays $54,500 for trading without registration

  • Date:

    2009-11-03

  • Number:

    2009/64

Vancouver - In a settlement agreement with the British Columbia Securities Commission, a New York-based financial services company has agreed to pay $54,500 for unregistered trading.

In the settlement agreement, Morgan Stanley & Co. Incorporated, a financial services company with head offices in New York City, admitted it traded in exchange-traded futures contracts for two B.C. clients without being registered.

The company registered as a portfolio manager and investment counsel with the BCSC on April 3, 2008. The trading occurred from 1997 to June 9, 2009.

The B.C. Securities Commission is the independent provincial government agency responsible for regulating trading in securities within the province. You may view the settlement agreement on our website www.bcsc.bc.ca by typing in the search box, Morgan Stanley & Co. Incorporated or 2009 BCSECCOM 606 New window. If you have questions, contact Ken Gracey, media relations, 604-899-6577.

Learn how to avoid investment fraud at the BCSC's investor education website: www.investright.org New window.