Patriot Act Point of Pain: Reference Data

Publicly, firms have been quick to throw their support behind the USA Patriot Act. Following Sept.11, no one, of course, wants to appear unpatriotic. But privately, firms are beginning to complain that implementing measures to comply with the act is no easy feat, especially given the speed in which firms are expected to undertake it. "This is mandated," says a spokesperson at a broker-dealer, who spoke on the condition of anonymity. "So we are doing what we have to do, but given the time fra

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