Morgan Stanley's wealth-management arm reportedly probed by multiple agencies

Core Viewpoint - Morgan Stanley's wealth management division is under investigation by multiple regulators regarding its client identity verification and monitoring practices [1][1][1] Regulatory Involvement - The investigation involves the Securities and Exchange Commission, the Office of the Comptroller of the Currency, and other offices within the Treasury Department [1][1][1] Key Issues Under Investigation - The main focus is on whether Morgan Stanley has adequately investigated the identities of prospective clients and the sources of their wealth [1][1][1] - Additional scrutiny is directed towards the bank's monitoring of financial activities, particularly concerning international clients [1][1][1] Market Reaction - Following the news, Morgan Stanley's shares experienced a decline of 4.5% on Thursday [1][1][1]