Tag: UIT

Morgan Stanley fine
September 25, 2017 BY LeapRate Staff

Morgan Stanley hit with $13 million FINRA fine for short term sales of UITs

The U.S. Financial Industry Regulatory Authority (FINRA) has announced that it has fined the Morgan Stanley Smith Barney LLC unit of global investment bank Morgan Stanley (NYSE:MS) $3.25 million and required the firm to pay approximately $9.78 million in restitution to more than 3,000 affected customers for failing to supervise its representatives’ short-term trades of…

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March 21, 2017 BY Valentina Kirilova

Russia NSD and NAUFOR implement new technological platform for UIT Market

National Settlement Depository (NSD), Russia’s central securities depository, in cooperation with the Russian National Association of Securities Market Participants (NAUFOR), has launched a centralized system for record keeping and distributing Unit Investment Trust (UIT) units. The new system allows users to get access to operations with the UIT units for all asset management companies connected…

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