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CryptoIntelligence 2024-08-11 19:14:04

Morgan Stanley Warned About ‘Unleashing its Legion of 15,000 Brokers to Pitch Bitcoin’

Morgan Stanley Warned About ‘Unleashing its Legion of 15,000 Brokers to Pitch Bitcoin’

Morgan Stanley, the largest wealth manager in the United States, is likely to face intense compliance scrutiny after permitting its entire team of financial advisers to start pitching spot Bitcoin exchange-traded funds (ETFs). This move has drawn criticism from crypto skeptic John Reed Stark, a former U.S. Securities and Exchange Commission (SEC) official. “By unleashing its legion of 15,000 brokers to pitch Bitcoin, Morgan Stanley has just voluntarily subjected themselves to what will likely become the largest SEC and FINRA examination sweep in history,” Stark wrote in an August 9 statement on X (formerly Twitter). He added, “Identifying violations will

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