News

Law

Asset Management

Investment Banking

Wealth

Hedge Funds

People

Newsletters

Events

Lists

Investment Banking

Morgan Stanley bankers fined $1m over use of messaging platforms

The fines follow a major breach in 2020 when two senior employees in the bank’s commodity division were fired over using personal messaging systems

The fines have been docked from Morgan Stanley bankers' previous bonuses or could be pulled from upcoming pack packages
The fines have been docked from Morgan Stanley bankers' previous bonuses or could be pulled from upcoming pack packages Photo: Bloomberg via Getty Images

Bankers at Morgan Stanley have been slapped with fines of more than $1m for breaching compliance rules by using WhatsApp and other messaging platforms to communicate official business.

The fines follow a major breach in 2020 when two senior employees in the bank’s commodity division were fired over using personal messaging systems, which triggered a $200m fine in 2022 for Morgan Stanley.

WSJ Logo