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In this issue:
  • SEC Cracks Open on Hurt Bill, Data Tagging
  • New Speakers for Financial Regulation Summit
  • DTC Advisor to appear before Oversight Committee
  • Data Transparency Breakfast is Monday!
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SEC Cracks Open on Hurt Bill, Data Tagging

 
The SEC had a breakthrough day last week when both Commissioner Luis Aguilar and Investor Advocate Rick Fleming spoke out in favor of data transparency.

Speaking at the agency's annual SEC Speaks conference, Fleming condemned Rep. Robert Hurt's proposal to require the SEC to stop collecting searchable XBRL data from most public companies and regress to non-searchable documents. At the same conference, Aguilar voiced support for searchable disclosure data.

Mr. Fleming, who will deliver a plenary address at our Coalition's Financial Regulation Summit, said,  "[The Hurt proposal] would create an exemption from the XBRL filing requirements for Emerging Growth Companies and other small companies, which some have estimated would exclude more than 60 percent of all public companies. If passed by the Senate and signed into law, I believe this bill would seriously impede the ability of the SEC to bring disclosure into the 21st Century. If Congressional action is needed, it should be used to press the SEC to move forward in its efforts to make disclosure more accessible and useful for investors. Cost to issuers is a legitimate concern, but I think we can safely predict that smart people will predict ways to bring those costs down significantly, particularly if the SEC moves forward with Inline XBRL."
 
Mr. Fleming's speech is available here.
 
Additionally, Commissioner Luis Aguilar voiced his view publicly, for the first time, that the agency should adopt structured data formats.

Commissioner Aguilar endorsed the SEC Investor Advisory Committee’s 2013 recommendation to have issuers provide information in an interactive data format. The Investor Advisory Committee, a formal advisory body established in 2010 by the Dodd-Frank financial reform, recommended that the SEC adopt machine-readable data tagging formats, such as XBRL, for all the information it collects under the securities laws.

Commissioner Aguilar’s speech is available here.

The Coalition and our members, who have worked tirelessly to provide SEC officials with the information they need to support the agency’s needed transformation from documents to searchable data, supported these moments.  
 
We will continue to push for the move from documents to data in financial regulation, March 24 at Union Market in Washington, D.C. during the Financial Regulation Summit! Get your tickets here!

DTC Advisor to Appear at House Oversight Hearing


Miriam Nisbet, who is the former Director of the Office of Government Information Services at the National Archives & Records Administration and a DTC advisor, will be testifying on Friday, February 27 at the House Oversight and Government Reform Committee. The hearing, “Ensuring Government Transparency Through FOIA Reform” will explore potential reforms to ensure accountability within the FOIA process.  The hearing will be livestreamed here at 9 a.m.

New Speakers Announced for Fin Reg Summit!

 
The Financial Regulation Summit, presented by RR Donnelley, will bring together U.S. regulatory leaders, Congressional supporters of data transparency, regulated entities, and tech companies. Data transparency can transform financial regulations benefiting investors, regulators, and registrants.
 
And, three new speakers have just been added to the agenda!
 
Josh Mandel, the Treasurer of Ohio, who just published Ohio's Online Checkbook, a model for the implementation of the DATA Act, will deliver the morning keynote. He will make the connections between data transparency in spending and data transparency in financial regulation
 
Roy Warden, Filing Operations Lead, Her Majesty’s Revenue and Customs (UK) and Donna Roy, executive director of the National Information Exchange Model (NIEM) and head of information sharing for the Department of Homeland Security will also share their insights with participants.
 
These exciting speakers join an already outstanding list of speakers that include:
  • Rep. Randy Hultgren (R-IL)
  • Rep. Carolyn Maloney (D-NY)
  • Dick Berner, Director, Office of Financial Research, U.S. Treasury
  • Mark Flannery, Chief Economist & Director of the Division of Economic and Risk Analysis, SEC
  • Rick Fleming, Investor Advocate, SEC

More speakers are being added every day! Get your tickets now! Early Bird discount ends tomorrow!
 

Financial Regulation Summit: Data Transparency Transformation

When: Tuesday, March 24, 8 a.m.-6 p.m.

Where: Union Market, 1309 5th Street Northeast, Washington, DC 20002
 
*Registration for Coalition members and federal employees is complimentary.
 

#FinRegSummit

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Only 3 days until the 1st Data Transparency Breakfast of 2015!


Do you have your ticket for Identifying Corporate Entities?
There is still time to be part of a great discussion with Christina Ho and Matt Reed among others!

Get your ticket here!

The Data Transparency Coalition's latest Partner Member!


Founded in 1914, Booz Allen Hamilton is a leading provider of management consulting, technology, and engineering services to the US government in the civil, defense, and intelligence markets, and to major corporations and not-for-profit organizations. Through the years, Booz Allen has used its deep knowledge and experience in strategy, change management, policy analysis, and systems implementation to help its clients navigate significant change initiatives required by government reform agendas, legislative mandates, evolving missions and new strategic directions. 
 
Booz Allen understands the people, process, and technology challenges federal agencies face in implementing the DATA Act requirements within the mandated timeline. With a collaborative culture, Booz Allen anticipates needs and opportunities, and can rapidly deploy talent to deliver enduring results.
 
As a Partner Member of the Data Transparency Coalition, the firm is proud of its role and honored to host the first Data Transparency Breakfast of 2015. We welcome the opportunity to contribute our experience and expertise to address the challenges of DATA Act implementation and advance the goal of transforming government through open data. 
 
Learn more about how Booz Allen can help unlock the power of open data here or go to www.boozallen.com.
More Data Transparency News
Members

Executive
Teradata Corporation
Workiva
PwC
Research Data Group
RR Donnelley

Partner
Booz Allen Hamilton
DataTracks
Socrata

Regular
Accenture Federal
Center for Organizational Effectiveness
Citizant
CGI Federal
Elder Research
Esri
Information Builders
IRIS Business Services
Level One Technologies
PR Newswire
Smartronix
StreamLink Software
uReveal

Startup
3 Round Stones
CalcBench
Enigma
Govini
The Gov-PATH Solutions Team

Trade Association
Object Management Group 
XBRL US
 

 

About Us

The Data Transparency Coalition advocates on behalf of the private sector and the public interest for the publication of government information as standardized, machine-readable data. Data transparency strengthens democratic accountability, enhances government management, reduces compliance costs, and stimulates innovation.
Copyright © 2015 Data Coalition, All rights reserved.


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