Regulatory Alerts2024-08-22 | 2024-18415Financial Data Transparency Act Joint Data Standards
Nine federal financial regulatory agencies, including the OCC, Federal Reserve, and SEC, issued a joint notice of proposed rulemaking to establish standardized data formats for regulatory reporting. This action implements the Financial Data Transparency Act of 2022 by creating interoperable data standards to improve the efficiency and consistency of information collection across the agencies. The agencies invite public comment on the proposed standards, which will serve as the foundation for final data collection requirements to be adopted in separate subsequent rulemakings.
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