While the fallout from bad bets on Puerto Rico bonds continues to ripple throughout the financial services industry, one wirehouse suffered the equivalent of a paper cut.

Morgan Stanley was recently ordered to pay $95,000 to redress the losses a client incurred from investing in Puerto Rican debt, down from an original claim for damages of more than $157,000. A FINRA arbitration panel also determined that the wirehouse's recommendations were unsuitable and had the case noted on a Morgan broker's CRD record.

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