Senators Press FINRA on ACATS Fraud: What Broker-Dealers Should Do Now

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On August 20, 2026, US Senators Ron Wyden and Elizabeth Warren sent a letter to FINRA President and CEO Robert W. Cook urging immediate regulatory action on fraud involving the Automated Customer Account Transfer Service (ACATS), the system used to move customer securities and cash between brokerage firms….
By: Cooley LLP
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