Why a synthex error in the follwoing query

When we run the  following query it produces a syntax error saying that:

Command has been aborted.

Number (102) Severity (15) State (1) Server (MYSERVER Incorrect syntax near ')'.

(42000)

select distinct ems_sa_id

from ems_shadow_account s

where ems_sa_isOld=0

and exists (select *

        from PRINCIPAL_PARTY

        where prp_cli_branch_number="xxx"

            and prp_cli_account_number="YYYYYYY"

            and prp_managed_ind != '06'

            and (

                    (prp_managed_ind like '0%' or prp_managed_ind='10')

                    or

                    (prp_managed_ind = 'N'  AND prp_discr_ind = 'A' and prp_trading_auth = 'I')

                )

           )

select @@version

Adaptive Server Enterprise/12.5.2/EBF 11798/P/NT (IX86)/OS 4.0/ase1252/1831/32-bit/OPT/Fri Apr 09 04:15:03 2004

The sub-query by itself works

Principal_party is a proxy table pointing to a table on a ASE version 15.3.

Please help me understand what is wrong.