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Reason for Rating
BBB rating is based on 13 factors. Get the details about the factors considered.
Factors that affect the rating for Morgan Stanley include:
- Failure to respond to 3 complaint(s) filed against business
- Length of time business has been operating
- Complaint volume filed with BBB for business of this size
- Resolution of complaint(s) filed against business
Customer Complaints Summary Read complaint details
|Complaint Type||Total Closed Complaints|
|Problems with Product/Service||22|
|Total Closed Complaints||26|
Customer Reviews Summary Read customer reviews
|Customer Experience||Total Customer Reviews|
|Total Customer Reviews||2|
Business ManagementMr. James P. Gorman, Chairman and CEO Mr. Mark Eichorn, Global Co-Head of Investment Banking Mr. Greg Fleming, President of Morgan Stanley Wealth Management, President of Morgan Stanley Investment Management Mr. Colm Kelleher, President of Institutional Securities, CEO of Morgan Stanley International Ms. Ruth Porat, Executive Vice President and CFO Mr. Jim Rosenthal, Chief Operating Officer
Alternate Business NamesMorgan Stanley Smith Barney
On February 2, 2016, the Federal Deposit Insurance Corporation (FDIC) announced a $62.95 million settlement of residential mortgage-backed securities (RMBS) claims against Morgan Stanley & Company LLC. The settlement funds will be distributed among the receiverships for three failed banks – Colonial Bank of Montgomery, Alabama, which failed on August 14, 2009; Security Savings Bank of Henderson, Nevada, which failed on February 27, 2009; and United Western Bank of Denver, Colorado, which failed on January 21, 2011. Along with $24 million from a settlement with Morgan Stanley last year of RMBS claims related to Franklin Bank, S.S.B., of Houston, Texas, which failed on November 7, 2008, this settlement brings total RMBS claim settlements by the FDIC with Morgan Stanley to $86.95 million. This settlement resolves federal and state securities law claims based on misrepresentations in the offering documents for 14 RMBS purchased by the three failed banks. As receiver for failed financial institutions, the FDIC may sue professionals and entities whose conduct resulted in losses to those institutions in order to maximize recoveries. The FDIC as receiver for the three failed banks filed four lawsuits from February 2012 to January 2014 against Morgan Stanley and other defendants for violations of federal and state securities laws in connection with the sale of RMBS to the three failed banks. As of December 31, 2015, the FDIC has filed 19 RMBS lawsuits on behalf of eight failed institutions, including the four lawsuits against Morgan Stanley, seeking damages for violations of federal and state securities laws. This settlement, which resolves all of the FDIC's RMBS claims against Morgan Stanley that were brought in those lawsuits, was reached in coordination with the U.S. Department of Justice.
On August 22, 2013, Morgan Stanley, owner of the world's largest brokerage, was fined $1 million for buying and selling bonds for customers at unfair prices. The Financial Industry Regulatory Authority (FINRA) also ordered the bank to pay $188,000 in restitution to customers.
Customer Review Rating plus BBB Rating Summary
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