Legislation was reintroduced into the US ngress yesterday to mandate the -ordinated use of electronic financial reporting standards across key US federal agencies.Led by ngressman Darrell Issa (R),the legislation,if passed,would significantly enhance llaboration across ernment and oblige agencies to make a huge range of information available to markets in open,easily nsumable digital forms.Specifically,the Bill:

•Directs the eight major U.S.financial regulatory agencies to adopt nsistent data fields and formats for the information that they already llect from the private sector under existing securities,mmodities,and banking laws

•For information that existing laws already require agencies to publish,directs agencies to make such information available online as open data –electronically searchable,downloadable in bulk,and without license restrictions.

•Directs the Treasury Department to adopt data standards for ncepts that reach across multiple financial regulatory agencies,such as entity identification,and requires the agencies to follow Treasury’s instructions.

•Specifically mandates the adoption of the global Legal Entity Identifier (LEI)across all financial regulatory reporting regimes,to allow easy matching of filings from the same entity with multiple regulators.

The Data Transparency Act ntains a set of reforms that the Data alition,a group founded by Hudson Hollister has championed for several years.

We especially applaud the emphasis on widely used open and international standards,such as XBRL,the mmon sense approach to require llaboration across agencies and;the requirement to use open international identifiers such as the LEI.These measures uld be helpfully studied for inrporation into the digitisation plans of many other untries.

We watch with interest!Find our more on the Data alition’s

中文新闻：美国国会再议金融透明度法案