Fed approves Morgan Stanley acquisition of ETrade
At the same time, Toronto-Dominion Bank’s acquisition of an ownership stake in the Charles Schwab Corp. was also approved
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.
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