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NSF-FIW-Reception
The Evolving Role of Financial Information Management for Systemic Risk
Monitoring and Regulation
The Smith School and the Pew Financial Reform Project will sponsor a public reception on Monday November 29 at 6 p.m.
to mark the establishment of the Office of Financial Research and to release a National Science Foundation Workshop
Report on Knowledge Representation for Financial Information Management.
President Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act into law on July 21, 2010.
The act created an Office of Financial Research (OFR) and a Data Center (OFR/DC) with the mandate to establish
a sound data management infrastructure for systemic-risk monitoring.
Senator Jack Reed (D-Rhode Island) was a key sponsor of the OFR and will present introductory remarks at the reception.
"Our current financial regulations are outdated. They were written when Wall Street traders could make thousands
of transactions in a week. Today, with the advent of new technologies, new financial instruments, and new trading
platforms, they can make millions of transactions in a second. Over the last several decades, a completely
unregulated shadow-banking system has metastasized to the point where many of these new products and
market-participants, such as derivatives and hedge funds, remain completely out of reach of financial regulators.
We need to address systemic risk and follow through with a strong, independent, and well-funded data, research,
and analytic capacity to fulfill its mission."
The goal of the Workshop on Knowledge Representation and Information Management for Financial Risk Management
sponsored by the National Science Foundation was to initiate a research discussion about the knowledge representation
challenges for effective financial information management. More than 50 invited academic researchers,
financial regulators, and industry practitioners participated in the event, hosted in July 2010 by the Smith School,
the Pew Charitable Trusts and the National Science Foundation. The participants brought diverse perspectives and
expertise in economics, computer science, finance, and information science, creating an intentionally
interdisciplinary discussion.
Workshop details …
For more information:
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