Violation Tracker Individual Record

Company: 
Morgan Stanley D.W., Inc.
Current Parent Company: 
Morgan Stanley
Penalty: 
$100,000
Year: 
2004
Date: 
November 17, 2004
Offense Group: 
financial offenses
Primary Offense: 
investor protection violation
Secondary Offense: 
financial institution supervision failures
Violation Description: 

Morgan Stanley Dean Witter agreed to pay $100,000 to the state Investor Protection Trust in settlement of allegations it allowed the beneficiary of a trust account to be designated as investment adviser for the trust, and failed to supervise an agent trading in the trust account, resulting in unsuitable investments. Procedural changes and restitution had already occurred before the settlement.

Level of Government: 
state
Action Type: 
agency action
Agency: 
Kentucky Department of Financial Institutions
Civil or Criminal Case: 
civil
Facility State: 
Kentucky
HQ Country of Parent: 
USA
HQ State of Parent: 
New York
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
financial services
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.