Morgan Stanley fines its bankers over messaging breaches
The US-based investment bank is docking pay and cutting bonuses of over USD 1m for individual bankers after a US probe revealed business had been illegally conducted on platforms such as WhatsApp.
By Joyce Koh and Tom Metcalf / bloomberg
Morgan Stanley fined some of its own bankers more than USD 1m each for conducting business on WhatsApp and other messaging platforms, the latest fallout from an industrywide probe that saw US regulators impose the record penalties for monitoring lapses.
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