According to a report from Bloomberg News, a Morgan Stanley employee inadvertently shared internal details of more than 100 investment banking deals the firm is working on in Asia.
The list primarily included new securities issues from China, South Korea and India supported by private capital and pension funds as well as projects that have been suspended.
The deals list was dispatched via email this week by a bank employee who later attempted to recall the message, according to people familiar with the matter. In light of the current situation, Morgan Stanley said in a statement that it maintains strict non-disclosure protocols.
The New York-based firm said it immediately took action to the data breach of information and maintained a key dialogue with key stakeholders.
At present, it is unclear whether clients and affiliated entities have initiated contact with Morgan Stanley and how the firm is addressing the issue.
While several banks and financial institutions have accidental data exposure in recent years leading to reputational damage and long-term customer trust issues.
Moreover, a unit of First American Financial Corp. exposed 885 million documents with customer information due to a security gap; while New York’s top regulatory body fined the firm $1 million for exposing those flaws.
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