Quartz: Wall Street’s watchdog is obscuring data that could protect investors

Quartz: Wall Street’s watchdog is obscuring data that could protect investors. “BrokerCheck is operated by an industry-run regulator. And the way it presents data has the power to distort markets and protect the profits of financial institutions. The only reason we know this is that, finally, its grip on the data is slipping. Starting a few years ago, a handful of pioneering academics were able extract the critical firm-related data from individual profiles. It’s thanks largely to these analyses, which offer vastly more complete data on firm behavior, that we’re starting to see how little investors are being told—and how much the ignorance costs them.”