From: Investment News
The recent cyberattack on Sony Pictures Entertainment holds lessons for Finra’s pending data-collection proposal, SIFMA executive argues
A recent cyberattack on Sony Pictures Entertainment did more than lead to the limited Christmas release for the movie “The Interview.” It also served as a cautionary tale for Finra’s pending data-collection proposal, according to a major financial industry interest group.
The Securities Industry and Financial Markets Association has been trying to stop Finra’s Comprehensive Automated Risk Data System, which would enable the broker-dealer regulator to collect reams of brokerage account information on a monthly basis and analyze it for sales trends that could potentially harm investors.
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