Three more US regulatory bodies have opened investigations into Morgan Stanley's wealth management division over its handling of potentially risky clients, according to a Wall Street Journal report citing an anonymous source.
The developments follow the Federal Reserve's on-going scrutiny of the division over its money laundering controls. The Securities and Exchange Commission, the Office of the Comptroller of the Currency, and the US Treasury are now also involved in examining the thoroughness of the division's investigations into its clients' wealth sources and financial activities.
