Business

Morgan Stanley pays $35 million to settle claims of failure to protect customer records


WASHINGTON—Morgan Stanley will pay $35 million to settle allegations that it removed computer servers and hard drives without ensuring that it no longer keeps sensitive customer information, regulators said.

Some computer hardware was resold with customer data still on it, according to the Securities and Exchange Commission. The money management and brokerage firm agreed to pay the fine without admitting or denying wrongdoing, the SEC said.



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