Overview
The momentum for U.S. financial regulators to adopt transparent, standardized data across their reporting regimes is well underway. Reliance on disconnected documents means investors, industry and the regulators themselves lose out. The Data Coalition is waging a successful advocacy campaign to convince Congress and agencies that it is time to modernize!
Beyond standardizing data collections across U.S. financial regulatory agencies, we are building the case for the eventual adoption of Standard Business Reporting (SBR). SBR, currently unknown in the U.S., has been successfully adopted in countries like the Netherlands and Australia. In Australia alone SBR saves companies and agencies more than AUD $1.1 billion per year.
The Data Coalition’s third annual Financial Data Summit assembled supporters of this crucial transformation. As financial agencies move from plain-text documents to structured formats like XBRL, and embrace interoperable data fields such as the Legal Entity Identifier (LEI), they enable better transparency for investors, data-driven analytics for investigators, and cheaper compliance for industry. By reducing costs and stimulating innovation, data standards will drive growth.
The Financial Transparency Act, pending in Congress, will require regulators to adopt standardized fields and formats across all the information they collect.
The Financial Data Summit is Washington’s premier policymaker gathering focused on the transformation of financial regulatory reporting into transparent data. Speakers included agency leaders; Congressional supporters of data transparency; and financial and technology industry leaders.
Speakers
Justin Antonipillai
Former Counselor and Open Data Chief, Department of Commerce
Richard Berner
Director, Office of Financial Research (OFR), U.S. Treasury Department
Johan Bos-Beijer
Senior Advisor to the Inspector General, U.S. Navy
Ben Brown
Managing Director, Patomak Partners
Rachel Carpenter
Founder and CEO, Intrinio
John Collins
Vice President for International Policy, BAFT
Milan Dalal
Counsel, Senator Mark Warner (D-VA)
Robin Doyle
Managing Director, Office of Regulatory Affairs, J.P. Morgan Chase
Alan Deaton
Chief of the Data Strategy Section, Division of Insurance and Research, Federal Deposit Insurance Corporation
Karl Eiholzer
Director of Product Management, Municipal Securities Rulemaking Board
Paul Ferree
Data Analytics Product Director, Conference of State Bank Supervisors
Joseph French
Co-Founder, President and CFO, Intrinio
Ben Harney
Counsel, Congresswoman Carolyn Maloney
Bob Fisher
Director of Financial Reporting, Washington Real Estate Investment Trust
Jo Guo
Head of Data Fundamentals, Morningstar
Geoff Harkness
Managing Director, MorganFranklin
Rob Hudson
e-forms, FERC
Emily Huang
Founder, idaciti
Bill Hulse
Legislative Assistant, Rep. Randy Hultgren
Congressman Randy Hultgren (R-IL-11)
U.S. House of Representatives
Congressman Darrell Issa
U.S House of Representatives
Marc Joffe
Director of Policy Research, California Policy Center
Howard Kaplan
Data Analyst, SEC
Mary Kopczynski
Founder and CEO, 8of9
Joe Kull
Director, PwC
Tommy Leander
Legislative Assistant, Rep. David Schweikert
Congresswoman Carolyn Maloney
U.S. House of Representatives
Daniel Meisner
Senior Director, Open Data and Ecosystems, Thomson Reuters
Gwendolyn Mitchell
Manager, Metadata and Taxonomy Operations, Federal Reserve
Rob Morgan
VP of Emerging Technologies, American Bankers Association
Bill Nichols
Senior Advisor, Information Architecture and Innovation, U.S. Treasury Department
Hicham Oudghiri
Co-founder and CEO, Enigma
Brian O’Shea
Senior Director, U.S. Chamber of Commerce Center for Capital Markets Competitiveness
Bryce Pippert
Principal, Booz Allen Hamilton
Linda Powell
Chief Data Officer, Consumer Financial Protection Bureau
Alex Pollock
Distinguished Senior Fellow, R Street Institute
Tom Quaadman
Executive Vice President, U.S. Chamber Center for Capital Markets Competitiveness
Steve Ressler
Founder, GovLoop
Matt Rizai
Chairman and CEO, Workiva
Donna Roy
Executive Director, Information Sharing and Services Office, Department of Homeland Security
Nick Sinai
Venture Partner, Insight Venture Partners
Mohini Singh
Director of Financial Reporting Policy, CFA Institute
Sam Taussig
Head of Government Relations and Community Banking, Kabbage
Chris Taggart
Founder and CEO, OpenCorporates
John Truzzolino
Director of Business Development, Donnelley Financial Solutions
Yolanda Scott Weston
Managing Director/Principal, Booz Allen Hamilton
Mike Willis
Assistant Director, Division of Economic and Risk Analysis, SEC
Stephan Wolf
Chief Executive Officer, Global Legal Entity Identifier Foundation (GLEIF)Venue
1331 Pennsylvania Avenue Northwest Washington, DC 20004
Agenda
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Thursday, March 16
8:00 am
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Registration and Breakfast
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| 8:45 am |
Welcome
Hudson Hollister, Executive Director, Data Coalition
Craig Clay, President, Global Capital Markets, Donnelley Financial Solutions
Brian O’Shea, Senior Director, U.S. Chamber of Commerce Center for Capital Markets Competitiveness
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| 9:00 am |
Congressional Panel: Introducing the Financial Transparency Act
Congressman Darrell Issa, U.S. House of Representatives (R-CA-49)
Congresswoman Carolyn Maloney, U.S. House of Representatives (D-NY-12)
Congressman Randy Hultgren, U.S. House of Representative (R-IL-11)
Craig Clay, President, Global Capital Markets, Donnelley Financial Solutions (moderator)
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| 10:00 am |
Plenary Address: Modernizing Financial Regulation
Alex Pollock, Distinguished Senior Fellow, R Street Institute
Bryce Pippert, Principal, Booz Allen Hamilton (moderator)
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| 10:15 am |
Executive Keynote: Open Data Standards in Financial Regulation
Richard Berner, Director, Office of Financial Research
Bryce Pippert, Principal, Booz Allen Hamilton (moderator)
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| 10:45 am | Networking Break Salon IV | ||
| 11:15 am |
Open Data Reporting in Action
John Truzzolino, Director of Business Development, Donnelley Financial Solutions
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| 11:30 am |
Data Users Panel: From Open Data to Insights
Emily Huang, Founder and CEO, idaciti
Rachel Carpenter, Founder and CEO, Intrinio
Alan Deaton, Acting Associate Director, Statistics Branch, FDIC
Howard Kaplan, Data Analyst, SEC
Hudson Hollister, Executive Director, Data Coalition (moderator)
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| 12:00 pm |
Plenary: Modernizing Global Regulation with the Legal Entity Identifier
Stephan Wolf, CEO, Global LEI Foundation
Steve Ressler, GovLoop (moderator)
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| 12:30 pm |
Lunch
Matt Rizai, CEO, Workiva
Hudson Hollister, Executive Director, Data Coalition
Sponsored by Workiva
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| 1:45 pm |
Track 1: Government
Salon I
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Plenary: A Hierarchy of Data Needs
-Linda Powell, Chief Data Officer, CFPB
-Yolanda Scott Weston, Principal, Booz Allen Hamilton (moderator)
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Track 2: RegTech
Salon II
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Plenary: How RegTech can Automate Reporting
– Bob Fisher Director, Washington Real Estate Investment Trust
– Adam Roth, CEO, StreamLink (moderator)
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Track 3: Industry
Salon III
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Plenary: Modernizing Regulation for Better Capital Markets
-Tom Quaadman, Executive Vice President, U.S. Chamber of Commerce Center for Capital Markets Competitiveness
– Geoff Harkness, Managing Director, MorganFranklin (moderator)
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| 2:15 pm |
Agency Panel: Internal Value from Open Data
-Bill Nichols, Senior Advisor, Information Architecture and Innovation, U.S. Treasury
-Rob Hudson, Project Lead, eForms, Federal Energy Regulatory Commission
-Gwen Mitchell, Manager, Metadata and Taxonomy Operations, Federal Reserve
-Paul Ferree, Data Analytics Product Director, Conference of State Bank Supervisors
-Karl Eiholzer, Director of Product Management, Municipal Securities Rulemaking Board
-Johan Bos-Beijer, Senior Advisor to the Inspector General, U.S. Navy (moderator)
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Emerging Technology Panel: RegTech and Reform
-John Collins, Vice President, International Policy, BAFT
-Donna Roy,Executive Director, Information Sharing and Services Office, Department of Homeland Security
-Marc Joffe, Director of Policy Research, California Policy Center
-Mike Willis, Assistant Director, Office of Structured Disclosure, SEC
– Jo Guo, Head of Data Fundamentals, Morningstar
-Joe Kull Director, PwC (moderator)
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Industry Panel: Open Data to Reduce Compliance Costs
-Rob Morgan, Vice President of Emerging Technologies, American Bankers Association
-Robin Doyle, Managing Director, Office of Regulatory Affairs, JP Morgan
-Mohini Singh, Director of Financial Reporting Policy, CFA Institute
-Ben Brown, Managing Director, Patomak Partners
-Dan Meisner, Senior Director, Head of Open Data and Ecosystems, Thomson Reuters (moderator)
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| 2:45 pm | Networking Break Salon IV | ||
| 3:30 pm |
Congressional Staff Panel: Reforms to Modernize Financial Regulation (off the record)
Salon I
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-Milan Dalal, Counsel, Senator Mark Warner (D-VA)
-Bill Hulse, Congressman Randy Hultgren (R-IL-14)
-Ben Harney, Congresswoman Carolyn Maloney (D-NY-14)
-Tommy Leander, Congressman David Schweikert (R-AZ-6)
-Christian Hoehner, Policy Director, Data Coalition (moderator)
Sponsored by RDG Filings
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RegTech Showcase: How Open Data Empowers New and Innovative Business Models
Salon II
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-Joey French, Co-Founder and President, Intrinio
-Mary Kopczynski, Founder and CEO, 8of9
-Sam Taussig, Head of Government Relations and Community Banking, Kabbage
-Chris Taggart, Founder and CEO, OpenCorporates
-Hicham Oudghiri, Co-founder and CEO, Enigma
-Nick Sinai, Partner, Insight Venture Partners (moderator)
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| 4:15 pm |
Closing Keynote: Delivering Open Data for Innovative Uses Salon IV
Justin Antonipillai, former Senior Advisor, U.S. Department of Commerce
Mike Starr, Vice President of Government and Regulatory Affairs (moderator)
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| 5:00 pm |
Closing Remarks Salon IV
Hudson Hollister, Data Coalition
John Truzzolino, Director of Business Development, Donnelley Financial Solutions
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