In response to concerns raised by regulators about these securities, Morgan Stanley Smith Barney announced today that it has placed certain restrictions on the sale of leveraged, inverse, and leveraged inverse exchange traded funds (ETFs).
Specifically, as of August 7, 2009, solicited purchases of these products will not be permitted in traditional brokerage accounts. Unsolicited purchases in these accounts will be permitted only subject to enhanced oversight and review. In addition, no purchases of these securities will be permitted in advisory accounts managed by Morgan Stanley Smith Barney Financial Advisors.
Financial Advisors have been encouraged to review existing positions in these securities with clients to emphasize their unique characteristics and risks.
Morgan Stanley Smith Barney, a global leader in wealth management, provides access to a wide range of products and services to individuals, businesses and institutions, including brokerage and investment advisory services, financial and wealth planning, credit and lending, cash management, annuities and insurance, retirement and trust services.
Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm's employees serve clients worldwide including corporations, governments, institutions and individuals from more than 1,200 offices in 37 countries. For further information about Morgan Stanley, please visit www.morganstanley.com.
Investments and services offered through Morgan Stanley Smith Barney LLC, member SIPC.
© 2009 Morgan Stanley Smith Barney
Contact: Media Relations, Christy Pollak, 914.225.6827