Good morning Morgan Stanley is under observation, inflation warning from Citadel’s Ken Griffin and China plunges into deflation again. Here’s what people are talking about.
The Federal Reserve is reviewing whether Morgan Stanley’s wealth management business is taking appropriate measures to prevent potential money laundering by wealthy clients outside the United States. The New York-based bank’s top regulator is pushing the company to improve controls and processes, according to a person familiar with the matter. Fed officials had previously privately reprimanded the company for not making all the changes it wanted, the person said, asking not to be identified discussing the confidential talks.
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