Fed approves Morgan Stanley acquisition of ETrade

Morgan Stanley has received Federal Reserve approval for its acquisition of discount brokerage ETrade Financial Corp., the U.S. central bank said in a statement on Wednesday.

The Fed’s order allows the companies’ banking operations to merge.

[More: What will Morgan Stanley’s James Gorman do with ETrade’s custody business?]

At the same time, Fed approved Toronto-Dominion Bank’s acquisition of an ownership stake in the Charles Schwab Corp.

The post Fed approves Morgan Stanley acquisition of ETrade appeared first on InvestmentNews.

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