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Workshop Overview

Workshop Highlighted by Obama Administration as High-Impact Collaboration



CTG and the Institute for Financial Market Regulation (IFMR) are pleased to announce that the workshop on Information Sharing and Coordination Challenges in Financial Market Regulation is being highlighted by the Obama Administration as a high-impact collaboration promoting “Data to Knowledge to Action” for growing the economy.
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Recent changes in finance, technology, market structure, and regulation fundamentally altered financial markets. The scale and scope of financial information qualitatively changed business processes and regulation. Transactions are much more complex, dispersed, and unevenly-regulated. Managing and controlling operations within firms, and external and internal regulatory supervision and control, involve multiple parties getting the right information and acting on it in coordinated ways. Sometimes these changes are managed effectively and sometimes they are not.

This workshop is designed to define a research agenda addressing challenges in information sharing and coordination in financial market regulation. The resulting agenda will contribute to the development of financial markets that are stable, open and fair in the face of major technological and organizational changes in financial market regulation. The topics to be addressed at the workshop include the challenges created through the volume and complexity of data as well as the dynamic and interconnected nature of the markets, financial instruments, technologies, and institutions that work at the heart of the markets and the regulatory process.

The meeting has three objectives: (1) to identify gaps in knowledge about organizational information sharing and coordination in the regulation of financial markets; (2) to identify critical open research questions; and (3) to establish an ongoing dialogue between academic researchers in computer and social science and market and regulatory professionals. In adopting an explicitly multi-disciplinary framework, we will expand on previous workshops, and explore insights that reflect the multi-dimensional set of factors that affect our ability to conduct effective regulation.

Speakers

LINDA POWELL
Chief Data Officer
Office of Financial Research (OFR), Department of Treasury

Linda Powell is the OFR’s Chief Data Officer. She was most recently the Chief of the Economic Data Management and Analysis section in the Division of Research and Statistics at the Board of Governors of the Federal Reserve System. She has a BA in Economics from Rutgers University and an MS in Finance from George Washington University. She has over 25 years of experience in the banking industry including a money center bank, the Federal Reserve Bank of NY, and the Board of Governors. She has worked in research for over ten years.

MARK FLOOD
Research Principal
Office of Financial Research (OFR), Department of Treasury

Mark D. Flood is a financial economist. He did his undergraduate work at Indiana University in Bloomington, where he majored in finance (B.S., 1982), and German and economics (B.A., 1983). In 1990, he earned his Ph.D. in finance from the Graduate School of Business at the University of North Carolina at Chapel Hill. He has taught finance and business at universities in the U.S. and Canada, and worked as a financial economist on issues of regulatory policy and risk management at the Federal Reserve Bank of St. Louis, the Office of Thrift Supervision, the Federal Housing Finance Board, and the Federal Housing Finance Agency. He was a founding member of the Committee to Establish a National Institute of Finance. He is currently a Research Principal at the Office of Financial Research in the U.S. Treasury. His research has appeared in a number of journals, including the Review of Financial Studies, Annual Review of Financial Economics, Quantitative Finance, the Journal of International Money and Finance, and the St. Louis Fed's Review.

Discussant for Closing Session

DANIEL GALLAGHER
Commissioner
Securities and Exchange Commission (SEC)

Commissioner Gallagher was confirmed by the Senate on October 21, 2011, and returned to the Securities and Exchange Commission, where he had previously served, on November 7, 2011. He was on the staff of the SEC beginning in January 2006, when he served as a counsel to SEC Commissioner Paul S. Atkins and later as a counsel to SEC Chairman Christopher Cox. He worked primarily on major matters before the Commission involving the Division of Trading and Markets and the Division of Enforcement. He joined the Division of Trading and Markets as a Deputy Director in 2008, where he played a key role in the SEC's response to the financial crisis and other significant issues before the Commission, including those involving credit rating agencies and credit default swaps. He served as an Acting Director of the Trading and Markets Division from April 2009 to January 2010, after which he left the agency to become a partner in the Washington D.C. office of WilmerHale. Commissioner Gallagher earned his JD degree, magna cum laude, from the Catholic University of America, where he was a member of the law review. He graduated from Georgetown University with a BA degree in English.

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