The Federal Trade Commission has closed its investigation of Morgan Stanley's massive data breach. It has identified the problem that allowed the breach to happen: access controls to a narrow set of reports were improperly configured.

According to Morgan Stanley, advisor Galen Marsh in December stole account records for 350,000 of its wealth management clients and posted 900 of those records online. The records were posted to Pastebin, an online bulletin board where anyone can anonymously post plain text.

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