This website uses cookies to store information on your computer. Some of these cookies are used for visitor analysis, others are essential to making our site function properly and improve the user experience. By using this site, you consent to the placement of these cookies. Click Accept to consent and dismiss this message or Deny to leave this website. Read our Privacy Statement for more.
Regulatory Engagement
Supporting Regulation

regulatory engagement

understanding the data implications of financial regulation

Regulatory Engagement

The EDM Council provides consultation and advice to members, regulators and market authorities on the data implications associated with legislative and regulatory obligations.

Our goal is to help all financial industry participants understand the practical data and standards implications and to support regulatory implementation for the business and operational needs of financial institutions, as well as the oversight requirements of market authorities.

The Council also provides facilitation among financial institutions, regulators, market authorities, vendors and infrastructure companies to adopt the standards required to implement a "data control environment" and address the core challenges of data harmonization, flexible classification, consistent aggregation, data validation and linked-risk analysis.

Regulatory Collaboration

Collaboration

The Council works closely with global regulators and market authorities to adopt data standards and implement data management best practice and has provided data management assessment and capability training (DCAM) to regulators across the globe.  As a component of our advocacy, the Council is working with global regulators on the precision of data meaning, the adoption of standards for instrument and entity identification, modernization of regulatory reporting and the adoption of standard criteria for the evaluation of data management capability.  

Council staff have been active participants in several regulatory advisory bodies, including...

  • Current member of the Office of Financial Research’s (OFR) Financial Research Advisory Committee (FRAC) and chair of the subcommittee on Data Standards Adoption
  • Past member of the Financial Stability Advisory Board's LEI Private Sector Participatory Group
  • Past member of the LEI Steering Committee
  • Past member of the CFTC Technical Advisory Committee and former co-Chair of the Data Standardization Committee
  • Past member of the Board of Advisor for the Data Coalition, a trade association dedicated to the transformation of government information into standardized, open data.

Regulatory Readiness

Readiness

The EDM Council works closely with its members in their efforts to establish effective data management programs that are critical to addressing their regulatory report obligations.

The Council, through the facilitation of its Best Practices Program, organizes events, webinars, group discussions and working groups that focus on data management capabilities and data standards needed to address the various regulations.

Topics such as defining the Data Governance Playbook, identifying Critical Data Elements (CDEs), aligning data management capabilities to the Principles of BCBS 239, and analyzing the role of data management in support of GDPR, are all examples of the Council’s commitment to work with its members (from both public and private sectors), to assist in implementing successful data management programs in support of their regulatory obligations.

If you would like to discuss any aspects of the EDM Council’s regulatory and legislative agenda, contact the Council here.

see additional regulatory links