Friday, May 27, 2022 2:42 PM
Ames-based Workiva Inc. is part of a coalition of financial data services companies urging Congress to support legislation to enact uniform data reporting standards for federal regulators. The Financial Data Transparency Act, introduced this week by Sen. Mark Warner, D-Va., and Sen. Mike Crapo, R-Idaho, would direct eight major U.S. financial regulators to adopt uniform data standards and machine-readable for the information they are already required to collect from regulated entities. The proposal complements other legislative efforts to transform government data into open, intelligent, searchable and downloadable formats without ownership restrictions, Workiva CEO Marty Vanderploeg said in a statement. “At a time when bipartisan support for the issues is hard to come by, the Financial Data Transparency Act demonstrates that innovation and efficiency in capital markets are areas of agreement,” Vanderploeg said. “With the technology available to our financial regulatory agencies today, this legislation is a game-changer, ensuring consistency and transparency at all levels.” Workiva is an executive member of the Data Coalition, which has also announced its support for the legislation and developed a fact sheet. The coalition is an initiative of the nonprofit Data Foundation and includes leaders from across the data industry dedicated to improving government data and decision-making.
