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Morgan Stanley's wealth-management arm is under scrutiny by the US Federal Reserve (Fed) for potential money laundering by rich foreign customers. The Fed is investigating whether the bank has sufficient controls in place to prevent such activities. The probe is focused on the bank's global wealth-management unit, and it was reported by the Wall Street Journal (WSJ).
$MS (-0.0% pre) Fed Probes Morgan Stanley’s International Wealth-Management Practices - WSJ https://t.co/QpUoEibgLA
Morgan Stanley faces Fed scrutiny, Ken Griffin's inflation warning and China's fragile recovery. Here’s what people are talking about 🔽 https://t.co/ZjfLuHbINE
Morgan Stanley faces Fed scrutiny, Ken Griffin's inflation warning and China's fragile recovery. Here’s what people are talking about 🔽 https://t.co/FVdFavgV95
Morgan Stanley’s wealth management practice is being scrutinized by the Fed over lapses tied to doing business with rich clients outside the US, WSJ reports https://t.co/AwmwKdy17c
Fed probes Morgan Stanley over money-laundering controls: report https://t.co/RAXfH5zjEF https://t.co/ItLm3N3C3G
Fed Probes Morgan Stanley’s International Wealth-Management Practices - WSJ via @HniReal https://t.co/c6hMtMIPG3
FED PROBES $MS'S GLOBAL WEALTH-MANAGEMENT UNIT: WSJ
JUST IN: The Fed is scrutinizing Morgan Stanley, $MS's wealth management arm into whether the bank has sufficient controls in place to prevent rich foreign customers from laundering money, per the WSJ
Morgan Stanley’s $MS wealth-management arm is being scrutinized by the 🇺🇸 Fed, which is looking into whether the bank has sufficient controls in place to prevent rich foreign customers from laundering money - WSJ