Morgan Stanley is currently being investigated for improperly pressuring brokers and branch managers to sell proprietary mutual funds to clients and misleading regulators, the Associated Press reports.

New York and Massachusetts regulators announced a joint inquiry Monday into whether the firm gave special benefits to advisers who touted in-house funds, while keeping investors in the dark about what was going on. The investigation was started from an anonymous tip from a broker in Boston in March, who suggested that there was internal pressure within Morgan Stanley to sell selected house funds.

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