Wall Street’s regulatory chief says data collection plan on hold

A controversial proposal by Wall Street’s industry-funded regulator to collect massive amounts of customer account data will not proceed until the industry’s concerns are addressed, the regulator’s chief executive will tell lawmakers Friday. “To be clear, we will not move ahead with the present form of the proposal and will not move forward with an amended version until we conclude that the concerns… have been addressed,” Financial Industry Regulatory Authority (FINRA) CEO Richard Ketchum said in prepared testimony seen by Reuters. More on Reuters here.