Fed Approves Morgan Stanley Acquisition of E*TradeFed Approves Morgan Stanley Acquisition of E*Trade

Jesse Hamilton (Bloomberg)

Morgan Stanley has received Federal Reserve approval for its acquisition of discount brokerage E*Trade Financial Corp., the U.S. central bank said in a statement on Wednesday. The Fed’s order allows the companies’ banking operations to merge.

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