As FINRA moves ahead with a controversial new data-reporting rule, the industry regulator is pledging to proceed cautiously and in close consultation with the industry it oversees, a senior official said.

Daniel Sibears, executive vice president of FINRA's member regulation programs, told an SEC committee this week that as his team reviews the so-called CARDS proposal, the industry regulator will be sensitive to the concerns some firms and trade groups have expressed, particularly those concerning privacy and security.

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access