For the second time this year, Morgan Stanley has agreed to settle a class-action lawsuit, this time covering racial and ethnic discrimination of black and Latino employees in its retail brokerage division.

The lawsuit challenged inequities in opportunities for blacks and Latinos in the distribution of accounts and other professional development and was filed on behalf of approximately 1,200 black and Latino financial advisers and financial-adviser trainees employed at Morgan Stanley at any time since Oct. 12, 2002.

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