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Morgan Stanley Fines Its Own Employees Over Messaging

Morgan Stanley Fines Its Own Employees Over Messaging

by Starling Insights

Starling Insights Editorial Board

Feb 08, 2023


Morgan Stanley has reportedly hit its own employees with financial penalties ranging from a few thousand dollars to more than $1 million for conducting official business on Whatsapp and other off-channel communication platforms.

Last year, the company agreed to pay $200 million to the Securities and Exchange Commission and Commodity Futures Trading Commission after investigations found its employees had used unapproved communication channels on Wall street. This was part of a crackdown across all major banks, which led to more than $1 billion in total fines.

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