On January 4, 2009, the Securities Exchange Commission (SEC) announced the settlement of the matter instituted against William Keith Phillips on July 20, 2009. Pursuant to the settlement, the Commission issued an Order Making Findings and Imposing Remedial Sanctions and a Cease-and-Desist Order pursuant to Sections 203(f) and 203(k) of the Investment Advisers Act and [...]
The Securities and Exchange Commission recently charged Morgan Stanley and one of the firm’s former investment adviser representatives, William Keith Phillips, with securities law violations for misleading clients about the money managers being recommended to them and failing to disclose conflicts of interest.
According to the SEC’s orders in the case, Morgan Stanley breached its fiduciary [...]