October 15, 2017, 6:01 AM
Dear Mr. Berko: My brother-in-law, who is a longtime human resources officer with a New York Stock Exchange brokerage, told me that the Financial Industry Regulatory Authority is establishing a new database to improve regulatory enforcement. This database will include information about all Americans’ brokerage accounts, their personal financial information and the details of every stock and bond transaction made by every brokerage firm. He says this is being done to prevent flash crashes like the one in 2010, when stocks fell 10 percent in a few minutes and then recovered just as fast. My retired tennis buddies and I, who often discuss your column in our clubhouse, would appreciate your usual brilliant response. And if you have time, please tell me why Standard & Poor’s downgraded U.S. Treasury bonds in August 2011 but Moody’s didn’t.