Regulation & Standards special report
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Tag-tical
When we upload an article to our website irdonline.com we add tags with words relevant to the story to help users manage the content, and as the market changes and the stories change, we have to add new tags. The tags on one of my most recent list of additions are all related to the same topic-regulation. The reason is that there is an abundance of regulatory requirements being pushed out these days, and this is making it difficult not to mention regulation when talking about data management.
The main topic of discussion has been geared towards the set-up of an industry utility. This is what vendors say keeps them up at night, and data managers say is what they are calling each other about. The Dodd-Frank Wall Street Reform Act passed in the US this summer is set to result in the creation of a data collection and analysis centre, the Office of Financial Research (OFR). The director of this new centre is yet to be appointed, and there is little information on how the OFR will work in practice.
With a lack of clarity and different efforts being discussed in regulatory circles around the world, it is too early for the data management community to get down to the nitty-gritty. But the general themes of improving transparency and standardization seem to be recurring, and firms can only assume strategic data management road maps will help them create a flexible foundation for complying with any future regulatory requirements. In this Regulation & Standards report, which includes comments from industry experts and a news review, we hope to help readers stay on top of the latest developments and ‘tag-lines' in the data management space.
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