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The Street reported on Morgan Stanley’s newest offering of platinum, gold and silver bullion.
The Street reported on Morgan Stanley’s newest offering of platinum, gold and silver bullion.
As quoted in the market news:
In 2005, Morgan Stanley was selling “bullion accounts” and charging its clients “storage fees.” However, according to a 2007 class-action lawsuit by its clients, there wasn’t actually any gold or silver being held in those accounts.
Morgan Stanley settled that lawsuit, without an admission of guilt, for $4.4 million.
Having learned its lesson(?), Morgan Stanley is now back in the business of selling bullion accounts. This time it has refined its approach…