Morgan Stanley’s wealth unit caught in AML crossfire

Apr 11, 2024 · Morgan Stanley’s wealth unit is under the regulatory microscope, with multiple federal agencies scrutinizing its procedures for evaluating the risk of money laundering among …

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FINRA Fines Morgan Stanley $10 Million For AML Program And …

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Dec 26, 2018 · WASHINGTON - FINRA announced today that it has fined Morgan Stanley Smith Barney LLC $10 million for anti-money laundering (AML) program and supervisory failures that …

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MORGAN STANLEY Anti-Money Laundering (AML) Officer

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The average salary for Anti-Money Laundering (AML) Officer at companies like MORGAN STANLEY in the United States is $112,290 as of July 29, 2024, but the range typically falls …

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FAQs about Morgan Stanley’s wealth unit caught in AML crossfire Coupon?

Why was Morgan Stanley fined $10 million by FINRA?

WASHINGTON - FINRA announced today that it has fined Morgan Stanley Smith Barney LLC $10 million for anti-money laundering (AML) program and supervisory failures that spanned a period of more than five years. FINRA found that Morgan Stanley’s AML program failed to meet the requirements of the Bank Secrecy Act because of three shortcomings: ...

Did Morgan Stanley violate Section 5 of the Securities Act?

FINRA also found that Morgan Stanley failed to establish and maintain a supervisory system reasonably designed to comply with Section 5 of the Securities Act of 1933, which generally prohibits the offer or sale of unregistered securities. ...

Do I have to maintain a Morgan Stanley personal securities account?

Generally, you must maintain all personal securities accounts at Morgan Stanley (consistent with local law) and in the region in which you are located. You also must obtain approval through the OBI System before opening any outside securities accounts. An account is treated as a personal securities account if: ...

Can a Morgan Stanley employee manipulate the market?

We will not tolerate any attempt by an employee or representative of Morgan Stanley to manipulate the markets or the prices of securities or to impede fair competition. Laws or regulations in almost all jurisdictions prohibit market abuse, including manipulative trading activities. These laws prohibit: ...

What information does Morgan Stanley receive from regulators?

As a regulated entity, Morgan Stanley receives information from regulators that is confidential and the exclusive property of the issuing agency, referred to as Confidential Supervisory Information (CSI). ...

How did FINRA determine the appropriate monetary sanction for Morgan Stanley?

In determining the appropriate monetary sanction, FINRA considered extraordinary corrective measures Morgan Stanley took to expand and enhance its AML-related programs, including that it devoted substantial resources to increase its staffing, improve its automated transaction monitoring system, and revise its policies and procedures. ...