Password, password, who has the password?

The New York Stock Exchange's regulatory arm said yesterday it has censured a former Deutsche Bank Securities math whiz for using a computer password from a prior job after he moved to the unit of Deutsche Bank AG.

Earlier this summer, Wei Wu was barred from the securities industry for nine months for breaking into an internal Web site at Lehman Brothers Holdings Inc. more than 200 times while he was a director of quantitative portfolio and index strategies at Deutsche, a job he lost in early 2003 after the German bank discovered the matter.

The Big Board's regulatory division said he didn't personally profit from information he obtained on the Lehman site but, upon discovering his log-in still worked, used it to mine for research and data that he used at his new job. He also shared the log-in with another Deutsche employee. Mr. Wu couldn't be reached for comment. The NYSE's regulatory decision notes he isn't currently employed by another broker-dealer.

Note to all Wall Street HR staffs: Collect credit cards and passwords from departing employees.

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