SIFMA Investor Survey on CARDS

SIFMA releases the findings of a survey of investor attitudes towards FINRA’s Comprehensive Automated Risk Data System (CARDS) proposal. The survey, commissioned by SIFMA and conducted online in November by Harris Poll among 1,103 U.S. investors, found that over two-thirds (69%) of investors oppose CARDS initially after reading a brief and balanced description of CARDS; the level of opposition goes up to four in five (80%) after investors read the different concerns that have been expressed regarding the CARDS proposal. Overall, investors do not see the value CARDS provides when weighing the benefits against the risks.

Related Material:

• Presentation (PDF)
• Press Release: SIFMA Survey Shows the Majority of Investors Are Opposed to FINRA’s CARDS Proposal– December 15, 2014
• Comment Letter: SIFMA Submits Comment Letter to FINRA Regarding FINRA’s CARDS Rule Proposal – December 1, 2014

Read Full Study

Excerpt 

Interviewing:

• November 18 – November 24, 2014

Respondents:

• 1004 U.S. Residents, ages 18 +, with at least $100,000 in investable assets and works

  with a financial professional for their investments

Method:

• Online

Sample:

• n=1016

Weighting:

• Total data were weighted using targets for education, age by gender, race/ethnicity,

  region, and household income to bring them into line with the general population of

  US residents age 18+ where necessary. Propensity score weighting was also used to

  adjust for respondents’ propensity to be online.

Sampling Error:

• +/- 4% at 95% confidence