Multiple federal agencies, including the SEC and FinCEN, are investigating Morgan Stanley's wealth management unit over concerns regarding how the bank vets wealthy clients for money laundering risks. This has led to a drop in Morgan Stanley's stock as the bank faces scrutiny over its compliance efforts with certain clients.
Morgan Stanley downplays queries into wealth management clients https://t.co/u4Y2HWqjXZ via @business
Morgan Stanley said federal inquiries about its efforts to monitor the background of its wealth management clients aren’t new https://t.co/p2fccgGVnn
$MS | Morgan Stanley's Compliance Efforts Under Spotlight As Federal Regulators Investigate Handling of Wealth Management Clients The bank is under scrutiny for its handling of certain clients whose financial activities raised red flags. The SEC and FinCEN have raised questions… https://t.co/RfaL0HR3m8
Finance watchdogs press Morgan Stanley on work with wealthy clients who have been flagged about money laundering. https://t.co/2wQW0r8oQ1
Morgan Stanley's wealth arm under probe by multiple regulators, WSJ reports https://t.co/GIFbg9okgt https://t.co/NP1fi27opq
Morgan Stanley dropping on reports of a probe into how the investment bank vets its wealth management clients. @karenfinerman, @timseymour, @GuyAdami and @grassosteve weigh the implications ahead of bank earnings. $MS https://t.co/pHJE46ccxW
LISTEN NOW: Shares of Morgan Stanley fell after a report that multiple federal agencies are looking into how its wealth management unit vets clients for money laundering risks. Listen to the @CNBCFastMoney podcast here: https://t.co/2KdGymzp3L https://t.co/IVQZmPK2MN
$MS got kicked in the groin leading up to their earnings report next Tuesday after SEC reports that they’re investigating how the bank vets their wealthy clients 🧐 https://t.co/1rW6Pg1mAQ
More US regulators join Morgan Stanley wealth management probe https://t.co/TbJT7v2uIx
Morgan Stanley stock falls as feds reportedly scrutinize bank's wealth unit https://t.co/Yil9uWYWRT