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RegTech Data Summit Keynote Speaker Ben Harris, Former Chief Economist and Economic Advisor to Vice President Joe Biden, provides his perspective on open, standardized data and the benefits of evidence-based policymaking.

In recent years, we have seen an explosion of regulatory technology, or “RegTech.” At our second annual RegTech Data Summit, we’ll explore the intersection of regulatory reporting, emerging technology, and open data standards with financial regulators, industry leaders, RegTech experts, academics, and open data advocates.

Governments around the world are implementing Standard Business Reporting (SBR) to modernize how they interact with the private sector and collect regulatory reporting. The Data Coalition is making the case for SBR in the U.S. federal government.

Modernizing financial regulatory reporting is no easy task. Open data standards are the key: by replacing document-based reports with standardized data, regulators can spur modernization.

The U.S. regulatory reporting framework is fragmented resulting in reporting requirements that are often duplicative and overlapping. J.P. Morgan Chase has issued a call to action.

The benefits of contextualized, standardized data that can be brought about by the OPEN Government Data Act should also extend to an area that most workers and employers already have to deal with - retirement security.

Yesterday, the Securities and Exchange Commission (SEC) voted 4 to 1 to adopt Inline XBRL for corporate financial data disclosure. The move to Inline XBRL will end duplicative documents-plus-data financial reporting and transition to data-centric reporting.

For over four years, the Biotechnology Innovation Organization and the leadership of the House Financial Services Committee have been trying to pass a bill that would prevent the U.S. Securities and Exchange Commission from collecting searchable financial data from most public companies. Fortunately, it is probably never going to become law. But why are the biotech industry and the Financial Services Committee leadership so fixated on the Small Company Disclosure Simplification Act?

Progress in RegTech has been seen in the private sector as access to quality data improve. This progress has not been mirrored in the private sector here in the United States, but the potential to improve government efficiency is not far off.

Last week the U.S. Securities and Exchange Commission proposed its first expansion of open corporate data in nearly nine years. Here's where the new proposal came from, what it means, and why it matters.