Morgan Stanley has distributed $50 million in fund restitutions to investors who bought funds between Jan. 1 2000 and Nov. 17, 2003 and were not told about incentives brokers received for selling certain funds or the higher fees they earned through B shares, Compliance Reporter reports.

Morgan Stanley either credited the payments to clients' accounts or issued them a check.

The payments were the result of a settlement the firm reached with the Securities and Exchange Commission on Nov. 17, 2003. The SEC and NASD brought the original charges against the firm for conflicts of interest in its sales practices.

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