From: ThinkAdvisor
By Melanie Waddell, Washington Bureau Chief, Investment Advisor Magazine
Morgan Stanley’s faulty policies allowed employee to move customer account data to personal server, which was hacked
Morgan Stanley agreed Wednesday to pay a $1 million penalty to the Securities and Exchange Commission to settle charges that it failed to protect customer information, some of which the agency says was hacked and offered for sale online.
The SEC order finds that Morgan Stanley failed to adopt written policies and procedures reasonably designed to protect customer data from 2011 to 2014.
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