Morgan Stanley Misuse of Personal Devices Costs $200 Million - 14 iulie 2022

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Morgan Stanley (US.MS) said it expects to pay a $200 million fine related to a broad US investigation into the use of unapproved personal devices.

MS disclosed the expense number in its second-quarter earnings statement, saying the $200 million was “related to a specific regulatory matter concerning the use of unapproved personal devices and the firm’s record-keeping requirements.” Total non-interest expenses totaled $9.71 billion, higher than the $9.53 billion analysts were expecting.

The probe has caused headaches across the banking industry. Deutsche Bank AG’s (DE.DBK) management board agreed to cut bonuses given for last year’s performance, Bloomberg reported last month. HSBC Holdings Plc (UK.HSBA) fired a trader in London after scrutinizing some staffers’ personal mobile-phone messages on platforms such as WhatsApp.

https://finance.yahoo.com/news/morgan-stanley-misuse-personal-devices-115749483.html

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