In the United States, the Financial Industry Regulatory Authority, Inc. (FINRA) is a private corporation that acts as a self-regulatory organization (SRO). FINRA is the successor to the National Association of Securities Dealers, Inc. (NASD) and the member regulation, enforcement and arbitration operations of the New York Stock Exchange. It is a self-regulatory organization, a non-governmental organization that performs financial regulation of member brokerage firms and exchange markets.So much for Big Government.
If you think the government and the IRS wouldn’t have access to that data, and wouldn’t use it for their benefit, you are either incredibly naïve or worse...
“Mr. Hu worries that Cards would take data that is widely dispersed—say you have money scattered across accounts at E*Trade, Fidelity Investments, Morgan Stanley and Charles Schwab—and centralize it for the first time.”