Morgan Stanley is being probed by the Financial Industry Regulatory Authority over whether the Wall Street giant properly vetted its clients for money-laundering risks.
The probe by Wall Street’s self-regulator focuses on the firm’s clients, risk ranking and other practices from October 2021 through September 2024, according to people familiar with the matter. It adds to the possible fines Morgan Stanley is already facing from federal investigations into its anti-money-laundering practices.
