Posts tagged as ‘LEI’
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.
Thanks to a generous invitation from Terrapinn, Data Coalition leadership spent nine days in Sydney and Canberra meeting leaders at the vanguard of Australia’s digital transformation.
Last week, the Data Coalition responded to the newly released Federal Data Strategy. Our response provided high-level commentary on the draft principles as well as six proposed use cases that the Administration could potentially work into the prospective Data Incubator Project.
Join the Data Coalition, Thomson Reuters, and government guests to explore the modernization of U.S. federal financial regulatory reporting!
The inaugural RegTech Data Summit’s thesis was that regulatory rules, technology, and data must be modernized in a coordinated fashion. If all three areas are modernized in tandem, new RegTech solutions will flourish, reducing reporting duplication, minimizing reporting errors, and enabling automation.
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.
A new procurement announcement from the General Services Administration (GSA) has confirmed that the U.S. federal government is seriously considering a new, open future for the way its contractors and grantees are identified. The end may be in sight for the status quo, in which one company holds a monopoly over contract and grant spending data.
The GSA has given Dun & Bradstreet, Inc., a monopoly over the code that identifiers every company that has, or seeks, a contract with the federal government. The tech industry is beginning to recognize that public contracting information shouldn’t be tracked using a proprietary system.