I want to emphasize to my colleagues the importance of fully funding the SEC.
Editor's note · Context
Foster stresses the need for adequate funding for the SEC post-financial crisis.
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Our intention is that you actually get the 605 done so that you have upgraded reporting of quality of order execution.
Many financial firms I talked to just told me that a reliable form of digital ID would really simplify the Anti-Money Laundering/Know Your Customer (AML/KYC) process, and make it faster, cheaper, and more reliable when they have to confirm the identity of customers.
If this was in place during COVID, when we had to onboard massive numbers of unbanked customers, but the customers had had a secure digital ID, would that have been a big improvement in our response to COVID?
I was very encouraged to hear my Republican colleagues' support for your mission, and that they agree with roughly 80 percent of Americans that you are doing something useful here.





