By Adrianne Appel2022-09-20T18:40:00
Morgan Stanley Smith Barney (MSSB) agreed to pay $35 million to settle Securities and Exchange Commission (SEC) charges it repeatedly disregarded the safeguarding of clients’ personal data.
The personally identifiable information of approximately 15 million MSSB customers was made vulnerable over a five-year period, beginning in 2015, because of failures by the firm to protect it, the SEC said in a press release Tuesday. MSSB is a wholly owned subsidiary of Morgan Stanley.
The trouble began when MSSB did not encrypt the personal data of customers stored on computer servers and hard drives, the SEC alleged. In 2016, the firm decommissioned two data centers and didn’t properly dispose of its computer servers and hard drives, the agency said.
2024-11-06T21:36:00Z By Jeff Dale
The Financial Industry Regulatory Authority fined broker-dealer Morgan Stanley $1 million over alleged documentation failures related to risk management controls and supervisory procedures involving violations of the Market Access Rule.
2024-05-16T19:10:00Z By Aaron Nicodemus
The Securities and Exchange Commission will require broker-dealers and registered investment advisers to adopt written policies and procedures for handling data breaches of customer data and notify affected customers within 30 days.
2023-11-17T21:10:00Z By Adrianne Appel
Morgan Stanley agreed to pay $6.5 million as part of a settlement with six states requiring the firm to strengthen its data security after actions it took compromised the personal data of millions of customers.
2025-10-08T18:28:00Z By Adrianne Appel
Charlie Javice, a former CEO who duped JPMorgan Chase into purchasing her start up company for $175 million, has been ordered to forfeit more than $22 million by the Department of Justice (DOJ) and to spend 7 years in jail.
2025-10-07T16:08:00Z By Adrianne Appel
Georgia Tech Research Corp. (GTRC) has agreed to pay $875,000 to settle allegations first raised by two compliance officers that its cybersecurity protocols violated acceptable standards for defense contractors, the Department of Justice (DOJ) said.
2025-10-06T17:12:00Z By Adrianne Appel
Tractor Supply Company has agreed to get into compliance with California’s consumer privacy law and to pay a $1.35 million fine—the largest yet by California—to settle allegations it violated the privacy rights of customers and job applicants.
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