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
James talks about his trip to Chicago and some of the interesting topics that came up (including a look at disaster recovery demands). Then Anthony and James touch on ISDA's initial margin rules, with Phase 3 going live next year.Subscribe to Weekly Wrap emails