Two Morgan Stanley employees were dismissed last month from a branch office in Baltimore that has recently become the subject of an investigation by the Securities and Exchange Commission, the Associated Press reported. A company spokeswoman confirmed that the branch manger Harry Buzzered and Chris Glassman, a broker, were terminated last month but declined further comment on either former employee or the SEC investigation. According to a report this week in The Wall Street Journal, the Morgan Stanley Baltimore office is under investigation for improper mutual fund trades on behalf of Glassman's customers. Questionable sales practices at Morgan Stanley branches, including undisclosed sales practices and widespread failures to report other conflicts of interest, led to a series of fines last year levied by the National Association of Securities Dealers in November.
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