NASD Regulation Inc. said Tuesday that Morgan Stanley & Co. has been fined $35,000 and will pay over $80,000 in restitution after settling charges that it failed to provide three customers the best execution possible in the sale of common stock. The firm was also censured.

Morgan Stanley, which neither admitted nor denied NASD Regulation's findings, will pay restitution and interest to the three investors. In its settlement, Morgan Stanley was also cited for violating rules and regulations relating to trade reporting and record keeping in connection with these transactions.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.