The U.S. Securities and Exchange Commission has agreed to settle charges against Morgan Stanley Smith Barney (MSSB) for its “astonishing” failure to protect the personal identifying information of some 15 million customers.
MSSB, now known as Morgan Stanley Wealth Management, is the wealth and asset management division of banking giant Morgan Stanley, which this week agreed to pay $35 million to settle allegations that it failed to properly dispose of hard drives and servers containing its customers’ personal data over a five-year period as far back as 2015.
Morgan Stanley hired a moving and s
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Morgan Stanley to pay $35M after hard drives with 15M customers’ personal data turn up in auction
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