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Morgan Stanley ordered to pay $11.5 million over covered call strategy

Morgan Stanley strategy

An investor alleges the firm made unauthorized trades. The Finra arbitration decision comes as the regulator is conducting an exam sweep on options.

Finra arbitrators ordered Morgan Stanley to pay $11.5 million in compensatory damages to an investor who alleged large portions of his accounts were sold without his approval.

Anthony E. Nowak accused the firm of violating a Florida securities law when it made unauthorized transactions in several

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