Beginning July 11, 2022, broker-dealers must start submitting their full customer and account reference data to FINRA CAT. Given the scope of data challenges firms face in these efforts, taking the necessary steps now to prepare by implementing appropriate procedures and data quality, reconciliation and validation controls will be critical to successfully managing this new, high-risk industry reporting obligation come July. This white paper dives into this topic and how your firm can prepare.
Table of Contents
- Introduction
- A Brief Back & Ahead
- CAIS Phase 2e: A New Era
- How Well Do You Know Your Customer
- Data Validation Obligations
- Security and Protection of Customer Information
- A New & Unparalleled Toolkit for Regulators
- Conclusion