Finra’s CARDS plan is likely to be a game changer

Released for public comment Sept. 30, CARDS Version 2.0 is an ambitious effort by the Financial Industry Regulatory Authority Inc. to develop mega-data on the brokerage industry and its millions of customer accounts for enforcement purposes. While the regulated don’t generally share the regulator’s enthusiasm for the Comprehensive Automated Risk Data System, it is likely to be implemented. When it is, CARDS promises to be a game changer in a number of ways, including some that may impact the fiduciary debate. More on Investment News here.

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