Multiple regulators probing Morgan Stanley wealth-management unit, WSJ says

Multiple federal regulators – including the Securities and Exchange Commission, the Office of the Comptroller of the Currency and other Treasury Department offices – are involved in probing Morgan Stanley over how it vets clients who are at risk of laundering money through the bank’s wealth-management division, people familiar with the matter told The Wall Street Journal’s AnnaMaria Andriotis. These regulatory inquiries are in addition to the Federal Reserve, which has told the bank that supervisory action is under consideration and whose similar probe The Wall Street Journal reported in November, the report stated.