A 529 plan (also known as a "qualified tuition plan") is a tax-advantaged savings plan designed to encourage saving for future college costs. Pursuant to Section 529 of the Internal Revenue Code, these plans are sponsored by states, state agencies, or educational institutions, and are offered in the form of either a pre-paid tuition plan or a college savings plans.
Written: January 20, 2010Don't Miss the BrokeAndBroker Blog Coverage of the
FINRA / Morgan Stanley Settlement:Written: August 10, 2010
In a Press Release titled: FINRA Fines Morgan Stanley $800,000 for Deficient Conflict of Interest Disclosures in Equity Research Reports and Public Appearances by Research Analysts / Firm Also Violated 2003 Research Analyst Settlement at http://www.finra.org/Newsroom/NewsReleases/2010/P121785, the Financial Industry Regulatory Authority (FINRA) announced on August 10, 2010, that it has censured and fined Morgan Stanley & Co., Inc. $800,000 for failing to make public disclosures required by FINRA's rules governing research analyst conflicts of interest. The firm also failed to comply with a key provision of the 2003 Research Analyst Settlement by failing to disclose the availability of independent research in customer account statements. In addition to the censure and fine, Morgan Stanley must review a sample of its research reports and certify to FINRA that they comply with FINRA's research analyst conflict-of-interest rules. These reviews and certifications must take place every six months for two years.
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