Morgan Stanley agreed to pay $60 million to settle claims that the bank didn’t properly handle decommissioning of data centers tied to its wealth-management business, the Office of the Comptroller of the Currency said Thursday. The OCC detailed two instances -- one in 2016 and another in 2019 -- in which Morgan Stanley didn’t meet expectations for overseeing contractors, though no breach of customer information was implied. “We have continuously monitored the situation and we do not believe that any of our clients’ information has been accessed or misused," Morgan Stanley said in a statement. Share ViaClick here to read the Mint ePaperMint is now on Telegram. Join Mint channel in your Telegram and stay updated with the latest business news.

Source: Mint October 09, 2020 00:00 UTC