Remarks made at the Big Data Conference on “A Vision for Data at the SEC” reiterating her suggestion that the SEC create a Digital Disclosure Task Force to develop a strategy for how the SEC acquires and provides data to investors and market participants. She also suggests that the SEC should create a new “Office of Data Strategy”.
Notable quotes include:
“Another condition to success is ensuring that computers can quickly and reliably interpret the data. Structured data can be an important part of this. SEC reporting in the last few years has begun to embrace better practices for structured data.”
“An important part of defining our vision should be the creation of an Office of Data Strategy. For some time, I have asked that the SEC develop an executive team responsible for creating and overseeing such an office. The office would be responsible for coordinating the creation of a data strategy addressing how we collect, manage, use, and provide data. This is a critical next step in turning our ad hoc growth as data users into a deliberate plan. The office could lend its expertise to, and would coordinate with, our policy, exam, and enforcement offices. Having a data strategy, and a team dedicated to it, is especially important in light of our limited resources.
Just as the telegraph ushered in a new information era, the spread of data and data tools is changing how information is used and shared. The promise is tremendous, and if the SEC can successfully harness the new technology, investor protection, financial stability, and the markets will all benefit.”