Morgan Stanley Fines Bankers Over Messaging Breaches

The video discusses the regulatory crackdown on unauthorized messaging apps on Wall Street, highlighting hefty fines imposed on firms like Morgan Stanley, which received a $200 million fine. Morgan Stanley is sharing these costs with employees through a point system, with fines ranging from $3,000 to over $1 million. This approach is more severe than other banks like Deutsche Bank and JP Morgan, which have only cut bonuses and pay. Morgan Stanley is also clawing back bonuses already paid to employees using unauthorized apps.

What was the fine imposed on Morgan Stanley for using unauthorized messaging apps?

• $400 million

• $200 million

• $100 million

• $300 million

How does Morgan Stanley plan to share the cost of fines with its employees?

• By implementing a point system

• By offering stock options

• By reducing salaries

• By increasing work hours

What is the range of fines that Morgan Stanley employees might face?

• $10,000 to $100,000

• $5,000 to $500,000

• $3,000 to over $1,000,000

• $1,000 to $10,000

Which banks have cut bonuses and pay for employees but not clawed back bonuses?

• HSBC and Barclays

• Bank of America and Wells Fargo

• Deutsche Bank and JP Morgan

• Goldman Sachs and Citibank

What unique action is Morgan Stanley taking compared to other banks?

• Increasing employee salaries

• Clawing back bonuses already paid

• Offering more stock options

• Reducing work hours