Kenneth Bentsen Jr., president and chief executive of the Securities Industry and Financial Markets Association, an industry trade group that represents securities firms, banks and asset management companies, is warning investors that they are likely to be saddled with the costs of managing the large and ever-increasing volumes of data required for regulatory reporting, Investment News reports.
Speaking at the SIFMA Tech 2014 conference in New York, Bentsen drew attention to the potentially significant demands of the Financial Industry Regulatory Authority’s proposed Comprehensive Automated Risk Data System, or CARDS program.
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