Massachusetts regulators fine Morgan Stanley over First Republic insider sales, spokesperson says By Reuters
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 06 2024
0mins
Source: Investing.com
Morgan Stanley Fine: Massachusetts securities regulators fined Morgan Stanley $2 million for failing to monitor trades by a First Republic Bank insider, specifically not confirming the absence of material nonpublic information during trading activities.
Insider Details: The insider involved was identified as James Herbert II, former executive chairman of First Republic, but he was not accused of any wrongdoing in the investigation.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
