Posts tagged as ‘LEI’
Alex Pollock - former president and CEO of the Federal Home Loan Bank of Chicago - told the 2017 Financial Data Summit that "the time has really come" to standardize financial regulatory data.
Twenty-eight Members of the House of Representatives, led by Rep. Darrell Issa (R-CA), have reintroduced the Financial Transparency Act (H.R. 1530). If enacted, the Financial Transparency Act would be the nation’s first RegTech law. The bill would modernize the U.S. financial regulatory reporting process from unstructured documents into fully searchable, standardized, and machine-readable data.
Last Friday, the General Services Administration, which manages the government-wide database of grantees and contractors and which administers the government-wide contract with D&B, released a Request for Information on alternatives to the DUNS Number.
Today the Data Coalition announced its 2017 Policy Agenda, which summarizes advocacy priorities for the start of the Trump Administration and the 115th Congress. The Coalition, which represents 36 leading technology and consulting firms, is the nation’s only open data trade association.
In April, the Securities and Exchange Commission published a 341-page Concept Release exploring the future of corporate disclosure in the United States. Yesterday the Data Coalition responded. This is the Coalition’s third major appeal for the SEC to transform its disclosure system.
The DATA Act, the nation’s first open data law, hit two major milestones this May. Not only did it celebrate its two-year anniversary since being signed into law by President Obama on May 9th, 2014, but we are now seeing federal agencies, the White House, Congress, and the private sector embracing the law’s vision for government-wide spending transparency as a very real inevitability.
Washington, D.C. - Financial expert Allan Mendelowitz today estimated that if U.S. financial regulatory agencies adopted consistent data formats for the information they collect, instead of using today’s document-based reports, a typical large investment firm could save "20 to 30 percent of operating expenses, or $200 to $300 million annually,” with similar savings across the whole financial industry.
Reps. Darrell Issa (R-CA), Ralph Abraham (R-LA), and Jared Polis (D-CO) held a press conference this afternoon to announce the introduction of the Financial Transparency Act of 2015 - the farthest-reaching open data legislation since the passage of the DATA Act last year.
The bill directs the Treasury Department's Office of Financial Research to set data standards, including a common identification code for regulated entities, for the whole financial regulatory sector. It also directs the eight other agency members of the Financial Stability Oversight Council, including the Securities and Exchange Commission and Commodity Futures Trading Commission, to adopt data standards for the regulatory information they collect, and to follow the OFR's lead where applicable.
Congressman Mike Quigley kicked off Sunshine Week with the introduction of H.R. 1381, the Transparency in Government Act of 2015 (TGA). The legislation contains provisions that will continue the push for the federal government to become more transparent and manage itself more effectively through the use of technology.