描述
The Financial Industry Regulatory Authority fined Morgan Stanley Smith Barney, LLC $650,000 and Scottrade, Inc. $300,000 For failing to implement reasonable supervisory systems to monitor the transmittal of customer funds to third-party accounts. Both firms were cited for the weak supervisory systems by FINRA examination teams in 2011, but neither took necessary steps to correct the supervisory gaps. For more info visit https://www.finra.org/media-center/news-releases/2015/finra-fines-mssb-scottrade-950k-failing-supervise-transmittal-customer
