Morgan Stanley caught short

Morgan Stanley building

A slap on the wrist.

The New York Post reports that the firm, led by CEO James Gorman, was fined $2m for inaccurately reporting its short positions — bets that certain stocks would fall — over six years.

During one 13-month period, the bank failed to report short positions on nearly 4bn shares held in 'certain proprietary accounts of its foreign affiliates', said the Financial Industry Regulatory Authority. Banks are required to regularly report their short positions to Finra.

To access the complete New York Post article hit the link below

Morgan Stanley hit with $2M fine for inaccurate short positions

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