Morgan Stanley to Pay $35 Million to Settle SEC Charges It Mishandled Customer Data

Morgan Stanley to Pay $35 Million to Settle SEC Charges It Mishandled Customer Data
The logo for Morgan Stanley on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York, on Aug. 3, 2021. Andrew Kelly/Reuters
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WASHINGTON—A Morgan Stanley unit has agreed to pay $35 million to settle Securities and Exchange Commission charges it repeatedly failed to safeguard personal information for millions of customers, the regulator said Tuesday.

The SEC said that for five years, Morgan Stanley Smith Barney failed to protect personal identifying information for 15 million customers. The firm agreed to pay the fine without admitting or denying its findings.