Workiva Sponsors Financial Data Summit 2017 to Help Advance Digital Data Standards
lterrat's bookmarks 2017-03-16
The Summit, hosted by the Data Coalition, is expected to draw more than 500 policymakers and others to focus on modernizing the data processes and formats used by financial regulatory agencies. The Data Coalition’s goal is to transform the agencies’ information from disconnected documents into digital, standardized data.
Summit speakers will include Congressional supporters of data transparency, along with leaders from financial regulatory agencies and the financial and technology private sectors. Participants will focus on the Financial Transparency Act, which is being reintroduced in Congress by Rep. Darrell Issa (R-CA), Rep. Carolyn Maloney (D-NY) and more than 25 other bipartisan members of the House of Representatives.
If enacted, the Financial Transparency Act would require the eight major U.S. financial regulatory agencies to adopt consistent data fields and formats for the information they are required to collect under existing securities, commodities and banking laws. The Act would also require regulators to use algorithms to process and analyze the information they receive quickly and efficiently, thereby saving taxpayer resources and enabling earlier detection of fraud and data errors."