Finra Proposes Rule to Protect Investors, Analyze Brokerages
The Comprehensive Automated Risk Data System (Cards) would, according to Finra, "enhance investor protection and ensure market integrity by allowing FINRA to identify and quickly respond to high-risk areas and suspicious activities that it might not identify through its current surveillance and examination programs."
Cards would be implemented in two phases. Initially it would affect only carrying or clearing firms (approximately 200), requiring them to report data they already have in their
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