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Morgan Stanley's Compliance Efforts Under Spotlight As Federal Regulators Investigate Handling of Wealth Management Clients
Multiple federal regulators, including the Securities and Exchange Commission (SEC) and the Office of the Comptroller of the Currency (OCC), are reportedly investigating Morgan Stanley’s (NYSE:MS) practices in vetting clients for potential money laundering activities.
The probe extends to various Treasury Department offices, with the Federal Reserve also considering supervisory action.
Key concerns revolve around the adequacy of client investigations and monitoring of financial activities.
Related: Morgan Stanley To Cut Hundreds Of Jobs In Wealth Management As Growth Slows.
As per the Wall Street Journal report, regulators are focused on ...