Bank fined $265 million

Bank fined $265 million


U.S. bank Morgan Stanley recently released its financial results for the second quarter of 2022, but the news is not good for investors. 

L listed company announced that it intends to pay a fine of 200 million US dollars (265 million Canadian dollars).

This significant sum will have to be paid by the company to have violated a specific policy regarding the use of personal devices not approved by authorities, as well as failing to meet requirements related to customer personal records.

According to Bloomberg, the company recorded revenue over US$1 billion in the past three months, down 55% from the second quarter of 2021.

On the New York Stock Exchange, JP Morgan (JPM ) was down 4.40%.