SIFMA President and CEO Kenneth E. Bentsen, Jr., explains the group's concerns on the data-collection aspect of the Securities and Exchange Commission's consolidated audit trail. In a wide-ranging interview, Bentsen broadly welcomes the advent of the CAT but points out SIFMA members have no control over protection of customer data they must supply, yet they could be held liable for any data breach, which he says is "unfair and unpalatable."
SIFMA's Bentsen outlines CAT data-collection concerns
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