The Financial Industry Regulatory Authority censured and fined four firms a total of $175,500 for municipal and other rule violations, including $55,000 against Morgan Stanley for failing to report municipal and corporate securities transactions in a timely manner.

Besides the fine for Morgan Stanley, sanctions announced yesterday by FINRA in its monthly disciplinary actions also were imposed on Wadsworth Investment Co. in Wallingford, Conn., Cumberland Brokerage Corp. in Philadelphia, and Tocqueville Securities LP in New York.

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