Morgan Stanley shares drop 6.5% due to SEC, OCC, and Treasury Department investigations into the bank's anti-money laundering efforts.

Morgan Stanley shares drop 6.5% following a Wall Street Journal report revealing US regulators, including the SEC, OCC, and other Treasury Department offices, are investigating the bank's efforts to prevent money laundering by wealthy clients. Regulators are examining if Morgan Stanley has adequately investigated clients' identities and financial activities. The bank has informed regulators it is improving controls and procedures.

April 11, 2024
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