Modernizing Financial Regulatory Reporting: New Opportunities for Data and RegTech

The Data Coalition, Thomson Reuters, and government guests explored the modernization of U.S. federal financial regulatory reporting!

September 12, 2018 · Three Times Square, New York, NY

Agenda · Speakers · Registration ·

Across all U.S. financial regimes, regulators are replacing document-based filings with standardized data. The global Legal Entity Identifier is being adopted across multiple reporting requirements, agencies like the SEC and CFTC have adopted structured data standards for the most-used corporate and derivatives reports, and the proposed Financial Transparency Act will mandate a comprehensive open data transformation. The replacement of documents with standardized data will bring new transparency and new RegTech applications for the financial industry.

Data standardization means lower compliance costs for the financial industry, more efficient enforcement for regulators, and better transparency for investors – but only if regulators work together to modernize. On September 12, the Data Coalition and Thomson Reuters brought together current & former government officials, global reformers, and industry experts to explore what’s next.

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Agenda

9:00 a.m.: Registration and Breakfast Served

9:30 a.m.: Welcome

Hudson Hollister, Data Coalition

Tim Baker, Thomson Reuters

Stephan Wolf, Global LEI Foundation

9:45 a.m.: Keynote Address and Questions

Troy Paredes, Former Securities and Exchange Commission

Moderator: Daniel Meisner, Thomson Reuters

10:00 a.m.: Regulator Panel

Richard Berner, Former Treasury Office of Financial Research

Joseph Darragh, Securities and Exchange Commission

Amias Gerety, Former Treasury Office of Financial Institutions

David vun Kannon, Treasury Office of Financial Research

Moderator: Chip Thresher, Thomson Reuters

10:45 a.m.: Break

11:15 a.m.: Financial Industry Panel

Mike Atkin, Enterprise Data Management Council

Dessa Glasser, Former J.P. Morgan Asset Management

Moderator: Kristin Hochstein, Thomson Reuters

12:00 p.m.: Closing Remarks & Adjournment

Hudson Hollister, Data Coalition

Speakers

Mike Atkin
Strategic Advisor, Enterprise Data Management Council

Mike AtkinMike is a strategic advisor to the Enterprise Data Management Council.  He previously held the position of the Managing Director of the EDM Council from its formation until 2017.

Mike is recognized as an expert in content management, reference data strategy, governance, quality and content engineering and has been providing strategic advice to financial industry participants on the requirements associated with managing data as a business asset since 1985.  He served as a member of the SEC Market Data Advisory Committee, the CFTC Technical Advisory Committee, various ISO Working Groups and the Financial Stability Board’s Advisory Group for LEI. He was a two-term Chair of the Data and Technology Subcommittee for the US Treasury’s Financial Research Advisory Committee.

For the past three years, Mike has been on the faculty of Columbia University teaching master’s degree candidates about the principles, practices and operational realities of data management

Tim Baker
Global Head of Innovation, Thomson Reuters

Tim Baker provides the strategic direction across the large portfolio of content assets and is also involved in innovation and new business development. Prior to Thomson Reuters, Tim was a Managing Director at UBS occupying a variety of analytical and supervisory positions and boards. He originally trained as an electronics engineer at Rolls-Royce. Baker has an MBA from Bath University, and is a CFA Charter Holder.

Richard Berner
Former Director of the Office of Financial Research (OFR), Department of the Treasury

Richard Berner is Executive-in-Residence at the Center for Global Economy and Business at the NYU Stern School of Business, and Adjunct Professor in the Department of Economics. He conducts research, gives talks, and helps to advance Stern’s financial stability initiatives. He teaches a graduate course in Financial Stability and Risk Management.

Berner served as the first Director of the Office of Financial Research (OFR) from 2013 until 2017. The OFR’s mission is to promote financial stability by delivering high-quality financial data, standards, and analysis. Richard received his bachelor’s degree magna cum laude in Economics from Harvard College in 1968, and his Ph.D. in Economics from the University of Pennsylvania in 1976.

Joseph Darragh
Fraud Investigator, Securities and Exchange Commission

 

 

 

 

Amias Gerety
Former Acting Assistant Secretary for Financial Institutions, Department of the Treasury

Amias joined QED as a Principal in 2017 focusing on supporting the portfolio and finding new investment opportunities.

Amias brings a deep background in financial markets, compliance, and RegTech to the QED team. Most recently, Amias served as the President’s nominee and as Acting Assistant Secretary for Financial Institutions at the U.S. Department of the Treasury. In that role, he was the lead advisor to the Secretary on policies affecting financial institutions. He also oversaw a number of programs focused on supporting small business lending and community development. Amias graduated Magna Cum Laude from Harvard with a BA in Social Studies.

Dessa Glasser
Former Chief Data Officer, J.P. Morgan Asset Management

Dessa Glasser, Ph.D., is a Principal with a 30-year track record designing and implementing innovative solutions and organizations in risk, data, and analytics. She focuses on Data and regulatory solutions and also assists Virtual Clarity, Ltd. on data solutions for their clients.

Dessa moved into the private sector after teaching at Rutgers University. At JPMorgan Chase, she launched firm-wide Capital Stress Testing Analytics then, as its first CDO, she built the Chief Data Office for Asset Management. She was Deputy Director of the Office of Financial Research for the U.S. Treasury, supporting the Financial Stability Oversight Council (FSOC), implementing data, standards and analytic solutions, including the global Legal Entity Identifier (LEI).

Dessa has a Ph.D. and M.A. in Economics from Fordham University and a B.S. in Business Administration from Fairleigh Dickinson University.

Kristin Hochstein
Head of Entity Data Services, Thomson Reuters

Kristin Hochstein leads Entity Data Services globally within the firm’s Pricing and Reference Services group, including looking after the Entity Risk business which encompasses Verified Entity Data as a Service (VEDaaS, formerly Avox) acquired last year. Prior to this role, Kristin helped drive the launch and success of Regulatory Solutions and the former Counterparty and Legal Entity data business for then Reuters. Before Thomson Reuters, Kristin held various roles at Dun & Bradstreet, most recently Senior Director in the Credit Risk business. She holds an MBA from Columbia Business School.

Hudson Hollister
Executive Director, Data Coalition

Hudson Hollister founded the Data Coalition in 2012 to serve as the leading industry advocacy group for open data in government. He has helped to craft landmark U.S. government data reforms, including the Digital Accountability and Transparency Act of 2014 (DATA Act) and the Financial Transparency Act. He received the FCW Federal 100 award in 2015 and was a Fastcase 50 winner in 2016.

Daniel Meisner
Senior Director, Enterprise Platform & Head of Open Data, Thomson Reuters

Daniel Meisner is a data & analytics strategy executive and the first Head of Open Data for Thomson Reuters.  Daniel leads TR’s Open Data program and strategic direction for TR’s Enterprise Platform. Daniel is a senior leader in TR’s global platform group and has held a variety of technical and strategic roles in the Technology and Financial & Risk business units.  In addition to his day job, Daniel sits on global steering committees for Symbology, Open Data, Platform, Innovation, and Information Governance.

Prior to joining Thomson Reuters, Daniel worked in the hedge fund and trading industry as a quantitative portfolio manager and high-frequency trading specialist. Daniel holds a BS, Communications from Northwestern University.

Troy Paredes
Former Commissioner, Securities and Exchange Commission

Troy A. Paredes is the founder of Paredes Strategies LLC.

From 2008-2013, Paredes was a Commissioner of the U.S. Securities and Exchange Commission, having been appointed by President George W. Bush and confirmed by the U.S. Senate. Paredes served as an SEC Commissioner during an especially historic time at the SEC and for our economy – namely, throughout the financial crisis and its aftermath, including the implementation of the Dodd-Frank Act. He played a key role in rulemakings and other regulatory matters concerning all aspects of the SEC’s mission and securities regulation, including, among other things, antifraud and anti-corruption, public company disclosures, capital formation, corporate governance, executive compensation, investment management, investment advisors, broker-dealers, exchanges, credit rating agencies, equity market structure, fixed income markets, derivatives, auditing and accounting, and cybersecurity.

Since leaving government, Paredes has had a wide-ranging consulting practice. Paredes advises on financial regulation, compliance, risk management, corporate governance, governmental and regulatory affairs, and administrative agency process. He also serves as an expert and advisor in regulatory enforcement investigations and in private litigation involving securities law and corporate law. Paredes holds a bachelor’s degree in economics from UC Berkeley and earned his J.D. from Yale Law School.

Chip Thresher
Director, Government Affairs, Thomson Reuters

Chip Thresher joined Thomson Reuters in 2014 as director of Government Affairs in Washington, D.C. Prior to joining Thomson Reuters, Thresher held various government affairs and regulatory positions in the private and public sector spanning industries including pharmaceuticals, telecommunications, energy and finance. From 2004 to 2008, he served in the Office of the Secretary at the US Department of Commerce. Thresher holds a bachelor’s degree in economics from the University of Colorado, an MBA from Pepperdine University and a J.D. from George Mason University School of Law.

David vun Kannon
Senior Standards Specialist, Office of Financial Research, Department of the Treasury

David vun Kannon is a Senior Standards Specialist with the Office of Financial Research (OFR). He is an expert in the design of data languages for the financial services industry. David led the design of eXtensible Business Reporting Language (XBRL) and was editor of all three versions of the specification. David has worked with regulators globally to implement XBRL including the FDIC, SEC, Bank of Japan, Bank Negara Malaysia, and others. David began his career at Goldman Sachs, leaving as a Vice President of Investment Research. David has a Masters in Computer Science from New York Institute of Technology and Bachelors in Computer Science from Hofstra University.

Stephan Wolf
CEO, Global LEI Foundation

Stephan Wolf was appointed by the Global Legal Entity Identifier Foundation (GLEIF) Board as the CEO of GLEIF.

Since January 2017, Mr. Wolf is Co-convener of the International Organization for Standardization Technical Committee 68 FinTech Technical Advisory Group (ISO TC 68 FinTech TAG). The group acts as an advisory sounding board to support and engage with the Fintech community on standards requirements, for the effective and efficient use and development of standards to support FinTechs and the broader financial services industry, delivered using a cooperative relationship approach. The focus of the FinTech TAG will be on the following areas: Financial messaging, semantic technologies, blockchain / distributed ledger technology, mobile / digital wallets, digital currencies as well as security considerations related to these topics and interoperability with existing bank-channels.

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