{"id":11591,"date":"2024-12-17T12:46:08","date_gmt":"2024-12-17T17:46:08","guid":{"rendered":"https:\/\/www.silverlaw.com\/blog\/?p=11591"},"modified":"2024-12-17T12:46:08","modified_gmt":"2024-12-17T17:46:08","slug":"sec-charges-morgan-stanley-smith-barney-firm-pays-15m-fines-for-third-party-disbursement-fraud","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/sec-charges-morgan-stanley-smith-barney-firm-pays-15m-fines-for-third-party-disbursement-fraud\/","title":{"rendered":"SEC Charges Morgan Stanley Smith Barney, Firm Pays $15M Fines For Third-Party Disbursement Fraud"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-9935 size-full\" src=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2021\/04\/FiverrLossesSmall.jpg\" alt=\"After discovering that four of its financial advisors had committed fraud with automatic bank transfers, Morgan Stanley Smith Barney (MSSB) has agreed to pay $15 million in fines and other sanctions for failing to have reasonable theft detection in place.\n\nPrior to December of 2022, MSSB did not have a system that screened and detected unauthorized transfers and payments made by Automatic Clearing House (ACH) and other types of cash transfers. Both methods were unauthorized, and the financial advisors were able to transfer millions of customer funds to their own accounts.\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2021\/04\/FiverrLossesSmall.jpg 300w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2021\/04\/FiverrLossesSmall-180x120.jpg 180w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/>After discovering that four of its financial advisors had committed fraud with automatic bank transfers, Morgan Stanley Smith Barney (MSSB) has agreed to pay $15 million in fines and other sanctions for failing to have reasonable theft detection in place. <a href=\"https:\/\/www.silverlaw.com\/blog\/sec-charges-morgan-stanley-smith-barney-firm-pays-15m-fines-for-third-party-disbursement-fraud\/#more-11591\" class=\"more-link\">Continue reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>After discovering that four of its financial advisors had committed fraud with automatic bank transfers, Morgan Stanley Smith Barney (MSSB) has agreed to pay $15 million in fines and other sanctions for failing to have reasonable theft detection in place. Continue reading \u203a<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[583,580],"tags":[],"class_list":["post-11591","post","type-post","status-publish","format-standard","hentry","category-sec-actions","category-stockbroker-misconduct"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SEC Charges Morgan Stanley Smith Barney, Firm Pays $15M<\/title>\n<meta name=\"description\" content=\"After discovering that four of its financial advisors had committed fraud, Morgan Stanley Smith Barney has agreed to pay $15 million.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.silverlaw.com\/blog\/sec-charges-morgan-stanley-smith-barney-firm-pays-15m-fines-for-third-party-disbursement-fraud\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"SEC Charges Morgan Stanley Smith Barney, Firm Pays $15M\" \/>\n<meta name=\"twitter:description\" content=\"After discovering that four of its financial advisors had committed fraud, Morgan Stanley Smith Barney has agreed to pay $15 million.\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2021\/04\/FiverrLossesSmall.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Silver Law Group\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"SEC Charges Morgan Stanley Smith Barney, Firm Pays 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