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Three fined for IPO abuse

Morgan Stanley, Goldman Sachs and JP Morgan have paid almost $3m (€2.4m) to settle charges that they broke rules governing the sale of initial public offerings.

US regulator, the National Association of Securities Dealers fined Morgan Stanley and JP Morgan $150,000 each and Goldman $125,000. Morgan Stanley also paid more than $2.5m, profits it made by breaking the rules.

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