Since its initial concept proposal in 2013, the Comprehensive Automated Risk Data System (Cards) has not received a ton of support. To put it mildly, the massive data collection system proposed by the Financial Industry Regulatory Authority (Finra) has not been a crowd favorite.
In theory, Cards' goal of helping regulators identify red flags in sales practices is sound. However, that hasn't stopped many from raising concerns about how the system will be run.
A brief look at the comments section
IBM makes headway with blockchain and encryption services; the FCA's Stephen Hanks says firms need to make decisions about their ARMs and APA providers soon.Subscribe to Weekly Wrap emails