web3.0Morgan Stanley Could Face Intense Compliance Scrutiny After Allowing Financial Advisors to Access Bitcoin ETFs, Warns John Reed StarkMorgan Stanley Could Face Intense Compliance Scrutiny After Allowing Financial Advisors to Access Bitcoin ETFs, Warns John Reed Stark
Morgan Stanley, the largest wealth manager in the United States, could face intense compliance scrutiny after allowing its entire team of financial
Wealth management giant Morgan Stanley is likely to face intense regulatory scrutiny after allowing its entire team of financial advisors to offer Bitcoin exchange-traded funds (ETFs) to clients, according to crypto skeptic John Reed Stark, a former 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 stated in an Aug. 9 X statement.
“IMHO, identifying violations will be like shooting fish in a barrel. So whoever Morgan Stanley’s current compliance director is — well, good luck with that,” he added.
Stark explained that both the SEC and the Financial Industry Regulatory Authority (FINRA) compliance and enforcement staff will have immediate access to all records, documents, emails, texts, voicemails, and phone conversations related to Morgan Stanley’s Bitcoin sales to retail investors.
“Khazanah bukti yang hebat, banyak dan mudah diakses ini akan tersedia kepada SEC dan FINRA bukan sahaja dengan klik tetikus,” kata Stark.
Ulasan itu dibuat selepas seseorang yang biasa dengan perkara itu memberitahu Cointelegraph pada 7 Ogos bahawa Morgan Stanley membenarkan 15,000 penasihat kewangannya untuk mula mengesyorkan dana dagangan bursa (ETF) yang dipatok BTC kepada pelanggan bernilai tinggi.
Individu itu, yang tidak dibenarkan membincangkan isu ini secara terbuka, mengesahkan laporan CNBC awal bahawa Morgan Stanley merancang untuk mula mengesyorkan Bitcoin ETF. Pada masa ini, firma itu hanya menyokong dua produk: BlackRock's iShares Bitcoin Trust (IBIT) dan Fidelity's Wise Origin Bitcoin Fund (FBTC). Menurut pengulas industri crypto, langkah itu akan menjadi penting untuk Bitcoin.
Berkaitan :‘Sudah pasti beberapa pergerakan’ pada pilihan Bitcoin ETF apabila CBOE memfailkan semula permohonan
“Berharap untuk melihat beberapa aliran masuk yang lebih besar pada separuh kedua tahun ini,” rakan kongsi pengurusan dana teroka crypto Dragonfly Haseeb Qureshi menyatakan pada X.
“Bolehkah anda bayangkan betapa besarnya ini?” Pelabur DeFi menambah.
Menurut data Farside, spot Bitcoin ETF telah menarik $17.3 bilion dalam aliran masuk sejak ia diluluskan pada 11 Jan.
Majalah: Cara peniaga dan pelombong China mengatasi larangan kripto China
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