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.
The acquisition pairs Zephyr's 21,000-product separately managed account database with Y Charts' newly launched AI agent assistant for investment research.
The war for talent continues in the Sunshine State with as Truist and RayJay teams managing a collective $1 billion in client assets defect to other firms.
Americans now estimate they need $1.2 million to retire comfortably, but rising costs and debt are making that goal increasingly difficult to reach.
Crewe Advisors' Ryan Halliday and Accelerated Wealth Partners' Eric Amar suggest mega RIA's readiness to integrate — not just scale — will determine whether an IPO exit actually works.
Morgan Stanley was co-lead underwriter for SPCX, reportedly generating $100 million in investment banking fees.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
