Morgan Stanley

The Federal Reserve and Federal Deposit Insurance Corp. identified shortcomings with the living wills of Wells Fargo, Bank of America, Goldman Sachs and Morgan Stanley, even as they gave them and the remainder of the eight biggest banks a pass.

The Dodd-Frank Act included a provision to lock some of the biggest firms into enhanced supervision even if they wanted to exit. But that grasp may not be as strong as it used to be.

Morgan Stanley’s net income rose 12% to $1.8 billion, or 93 cents a share, from $1.6 billion, or 81 cents, a year earlier.

The agencies will give eight of the largest U.S. banks an extra year to file upcoming resolution plans, and suggested they may stretch out the filing schedule on a more ongoing basis.

Convinced that clients want as much human interaction as ever, the Wall Street firm is using machine learning to help its financial advisers stay informed and work efficiently.