A state regulator publicly released confidential information on thousands of customers of Morgan Keegan & Co., the investment banking and brokerage firm, the Wall Street Journal reported.

Alabama's securities regulation agency "mistakenly released" the information, forcing the Memphis firm to notify some 18,500 account holders of the breach of security.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.