A decision by the Securities and Exchange Commission (SEC)  to close an investigation into the cash sweep program at Morgan Stanley may affect decision-making at other financial institutions under similar scrutiny.

The SEC informed Morgan Stanley in March that it had closed its investigation into the firm’s cash sweep program without recommending an enforcement action, Morgan Stanley disclosed in a 10-Q Monday.

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Aaron Nicodemus is the Editor-in-Chief of Compliance Week. He previously worked as a reporter for Bloomberg Law and as business editor at the Telegram & Gazette in Worcester, Mass. Email: aaron.nicodemus@complianceweek.com LinkedIn:...