AccessControlException when trying to redeploy webapp to Tomcat using Netbeans

Question

I'm getting the following error trying redeploy an webapp on Tomcat from within Netbeans 6.8. It has probably something to do with the new deploy on save and hot swap functionality. Any ideas how to resolve this issue?

INFO: Error registering wrapper with jmx StandardEngine[Catalina].StandardHost[localhost].StandardContext[/CubeAdSaSim2] Catalina:j2eeType=WebModule,name=//localhost/CubeAdSaSim2,J2EEApplication=none,J2EEServer=none java.security.AccessControlException: access denied (javax.management.MBeanTrustPermission register)
java.security.AccessControlException: access denied (javax.management.MBeanTrustPermission register)
        at java.security.AccessControlContext.checkPermission(AccessControlContext.java:323)
        at java.lang.SecurityManager.checkPermission(SecurityManager.java:568)
        at com.sun.jmx.interceptor.DefaultMBeanServerInterceptor.checkMBeanTrustPermission(DefaultMBeanServerInterceptor.java:1824)
        at com.sun.jmx.interceptor.DefaultMBeanServerInterceptor.registerMBean(DefaultMBeanServerInterceptor.java:310)
        at com.sun.jmx.mbeanserver.JmxMBeanServer.registerMBean(JmxMBeanServer.java:482)
        at org.apache.tomcat.util.modeler.Registry.registerComponent(Registry.java:805)
        at org.apache.catalina.core.StandardContext.registerJMX(StandardContext.java:5281)
        at org.apache.catalina.core.StandardContext.start(StandardContext.java:4482)
        at org.apache.catalina.manager.ManagerServlet.start(ManagerServlet.java:1249)
        at org.apache.catalina.manager.ManagerServlet.doGet(ManagerServlet.java:377)
        at javax.servlet.http.HttpServlet.service(HttpServlet.java:617)
        at javax.servlet.http.HttpServlet.service(HttpServlet.java:717)
        at org.apache.catalina.core.ApplicationFilterChain.internalDoFilter(ApplicationFilterChain.java:290)
        at org.apache.catalina.core.ApplicationFilterChain.doFilter(ApplicationFilterChain.java:206)
        at org.netbeans.modules.web.monitor.server.MonitorFilter.doFilter(MonitorFilter.java:196)
        at org.apache.catalina.core.ApplicationFilterChain.internalDoFilter(ApplicationFilterChain.java:235)
        at org.apache.catalina.core.ApplicationFilterChain.doFilter(ApplicationFilterChain.java:206)
        at org.apache.catalina.core.StandardWrapperValve.invoke(StandardWrapperValve.java:233)
        at org.apache.catalina.core.StandardContextValve.invoke(StandardContextValve.java:191)
        at org.apache.catalina.authenticator.AuthenticatorBase.invoke(AuthenticatorBase.java:525)
        at org.apache.catalina.core.StandardHostValve.invoke(StandardHostValve.java:128)
        at org.apache.catalina.valves.ErrorReportValve.invoke(ErrorReportValve.java:102)
        at org.apache.catalina.core.StandardEngineValve.invoke(StandardEngineValve.java:109)
        at org.apache.catalina.connector.CoyoteAdapter.service(CoyoteAdapter.java:293)
        at org.apache.coyote.http11.Http11Processor.process(Http11Processor.java:849)
        at org.apache.coyote.http11.Http11Protocol$Http11ConnectionHandler.process(Http11Protocol.java:583)
        at org.apache.tomcat.util.net.JIoEndpoint$Worker.run(JIoEndpoint.java:454)
        at java.lang.Thread.run(Thread.java:619)