FINRA is seeking comment on a proposal whereby brokers who are changing firms would be required to disclose significant compensation benefits they receive from doing so to all clients they contact about the switch.

The proposal would require disclosure for one year after the registered broker changes firms. It would not apply to compensation increases of under $50,000.

“We would anticipate commenting during the comment period,” said Christine Jockle, a spokesperson for Morgan Stanley.

The self-regulatory organization is reviewing conflicts at 14 of the largest US brokerages, focusing on compensation and recruiting, Bloomberg said.

Highlighting the levels of client assets which are often involved when brokers move firms, Morgan Stanley Wealth Management earlier this month recruited eight financial advisors - seven from Merrill Lynch and one from Barclays - with a combined $778 million in assets under management. Just a week before, Merrill Lynch brought in 10 advisors from Morgan Stanley, UBS and Wells Fargo, representing some $1.07 billion in assets and $7.7 million in production.