Congressman Garrett Issues Statement Questioning Need for FINRA CARDS Proposal

Congressman Scott Garrett (R-NJ), Chairman of the Financial Services Subcommittee on Capital Markets and Government-Sponsored Enterprises, issued a statement questioning the FINRA-proposed rule to implement the Comprehensive Automated Risk Data System ("CARDS").

Representative Garrett stated that he remains "far from convinced" that a new "burdensome" proposal is needed, and questions whether the purported benefits justify the costs.

See: Press Release.