Extracting raw materials from the earth can be a dirty business, and not just because of environmental damage. But there are new job opportunities for financial professionals in keeping the industry clean.
Miners and oil companies often operate in countries where corruption is commonplace and legal structures are weak. The Dodd-Frank federal financial regulation overhaul passed this year called for greater transparency about payments that natural resource firms make to foreign governments.
December 21, 2010 marks the tenth anniversary of the Data Quality Act (DQA), also known as the Information Quality Act, 44 U.S.C § 3516, note.
The DQA has deep roots developed over nearly a half-century as the result of a seed planted during the Johnson Administration which germinated in the Nixon Administration, was watered by the Carter Administration and whose product was harvested by the Reagan Administration, made available to the public in the Bush I Administration and subsequently enhanced by the Clinton Administration and promoted by the Bush II and Obama Administrations. See: http://thecre.com/ombpapers/SystemsAnalysisGroup.htm and http://thecre.com/quality/20010924_fedinfotriangle.html
(Reuters) – A torrent of new rules for Wall Street and U.S. banks is pouring off Capitol Hill into the federal regulatory agencies, unleashed by the devastating 2008-2009 financial crisis.
The agencies is where the action will be this year and next as regulators, lobbyists and lawmakers struggle to implement the Dodd-Frank financial reforms.
With parallel efforts under way in Europe, Dodd-Frank — enacted on July 21 — is likely to be implemented as written, though banks are lobbying for softening parts of it to protect their profits and business models.
Here’s what lies immediately ahead and a look into 2011:
The Financial Services Coordinating Council for Critical Infrastructure and Homeland Security (FSSCC), a private sector organization created by the financial services industry, signed a Memorandum of Understanding with the Department of Homeland Security’s Science and Technology directorate and the National Institute of Standards and Technology (NIST).
The MOU calls for collaborative research, development and testing of cybersecurity technologies to help secure the financial industry’s critical infrastructure.
FSSCC, was established in 2002 and serves as “the sector coordinator for Financial Services for the protection of critical infrastructure, focused on operational risks. Because the FSSCC fits into a larger network of industry/sector coordinating councils, it is uniquely positioned as the leader within financial services for developing strategies to improve shared critical infrastructure and homeland security.”