Regulatory Probes Target Morgan Stanley's Wealth Management Arm

Posted on June 6th, 2024 at 1:20 PM
Regulatory Probes Target Morgan Stanley's Wealth Management Arm

From the desk of Jim Eccleston at Eccleston Law 

Multiple regulatory agencies, including the U.S. Securities and Exchange Commission (SEC) and the Office of the Comptroller of the Currency (OCC), are conducting investigations into Morgan Stanley's wealth management division, as reported by the Wall Street Journal.

According to sources familiar with the matter, regulators are scrutinizing whether Morgan Stanley has adequately verified the identities of potential clients, assessed the sources of their wealth, and effectively monitored their financial activities. Additionally, some of the investigations are focusing on the bank's interactions with international clients.

Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, transition, regulatory, and disciplinary matters.

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