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Guys what is wrong with ACATS

Ever transferred assets between brokerages? Impressive, terrifying machinations happened in the background. No cats were harmed.

To FINRA, for example, which has a podcast episode about how it coordinated an industry-wide fact finding process to issue a pair of RegNotices to let the industry know about this new Wild West of criminality and how to deal with it. And sometimes the odd spike is in the other direction: a regulated institution has an important function headed up by a well-credentialed, impeccably pedigreed, speaks-at-conferences, well-liked-by-colleagues-and-friends individual who capitalism should not want in the chair they currently occupy. Some might come to this ( mistaken) point of view because they talked to a front line customer service representative of the brokerage who, and this is aggravating but it will happen at least once today even in a regulated institution, just makes shit up rather than reading the Emergency Escalations list printed in their cubicle.

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