Tag Archives: Office of the Comptroller of the Currency

Morgan Stanley Settles with OCC for $60 Million

Morgan Stanley has settled claims by the Office of the Comptroller of the Currency (OCC) that it failed to properly decommission data centers that housed client data of its wealth-management operations two times—once in 2016 and once in 2019 for $60 million. According to the OCC, Morgan Stanley “failed to effectively assess or address risks … Continue Reading

In Wake of Cyber-Attacks, Regulators Focus on SWIFT as Senators Urge Obama to Press G20 to Combat Cybercrime

As cyber-attacks involving the global payment system SWIFT increase in frequency abroad, U.S. regulators are discussing steps designed to protect against similar attacks on U.S. financial institutions. The Federal Reserve, Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp. issued a joint letter last week to Representative Carolyn Maloney (D-NY) of … Continue Reading
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