Morgan Stanley agreed to pay $60 million to settle accusations that the bank didn’t properly handle the 2016 decommissioning of two data centers tied to its wealth management business, the Office of the Comptroller of the Currency said in a statement Thursday.
The lender “failed to effectively assess or address risks associated with decommissioning its hardware,” including improper assessment of the risks of subcontracting the work and failure to keep appropriate tabs on customer data stored on obsolete devices, the regulator said.
Wells Fargo adds two bank-channel recruits, UBS lands a JPMorgan Chase veteran, and a multi-family office lifts Atlas past $1B
“The state comes down on you in years when you make 40% returns for clients,” said Bill Swayne, the advisor and son of Candace Swayne.
The Independent broker-dealer giant has had “active conversations” with the Claude maker, which is days away from its expected IPO
For Gen X clients entering life after work, answering the financial question isn't enough to solve the entire retirement equation.
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