Post Profile

Massachusetts is going after Morgan Stanley for sales tactics eerily similar to Wells Fargo ($MS)

Morgan Stanley may have improperly pushed financial products on customers using a high-pressure sales culture. In a filing against Morgan Stanley on Monday, the Office of Secretary of the Commonwealth William Gavin accused the bank of pushing unwanted financial products onto customers and emphasizing selling products to customers even when they may not have needed them. "Morgan Stanley's firm-wide culture emphasizes the aggressive cross-selling of banking and lending products to wealth management clients," said the complaint.
read more


Related Posts

Massachusetts’ Secretary of Commonwealth subpoenas Morgan Stanley over Facebook

Technology : Venture Beat

William Galvin, Secretary of Commonwealth for Massachusetts, is subpoenaing Facebook investor Morgan Stanley, Reuters reports. “The Securities Division has put out a subpoena to Morgan Stanley in connection with the analyst’s discus...

House committee launches investigation into Wells Fargo sales tactics

Business & Finance : Money & Co

The House Financial Services Committee has launched an investigation into improper sales tactics at Wells Fargo & Co., and plans to call the bank’s chief executive to testify at a hearing this month. Rep. Jeb Hensarling (R-Texas), t...

Morgan Stanley Accused of Unethical Sales Contests in MA

Business & Finance / Mortgage & Banking : Mortgage Lender Implode-O-Meter

Morgan Stanley was charged with "dishonest and unethical conduct" by Massachusetts' top securities regular on Monday for having pushed its brokers to sell loans to their clients. Secretary of the Commonwealth William Galvin alleges ...

Massachusetts Fines Morgan Stanley Over Facebook I.P.O.

Business & Finance : DealBook

The regulator, William F. Galvin, the Massachusetts secretary of the commonwealth, accused the bank of improperly influencing the I.P.O. process.

Wells Fargo 2.0: Massachussetts Charges Morgan Stanley With Dishonest Conduct To Cross-Sell Product

Business & Finance : Zero Hedge

Step aside Wells Fargo fake account scandal: moments ago Reuters and Bloomberg reported that Massachusetts Secretary of the Commonwealth William Galvin charges Morgan Stanley with “dishonest and unethical conduct” related to “high p...


Copyright © 2016 Regator, LLC