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Data companies voice support for Financial Data Transparency Act


Ames-based Workiva Inc. is part of a coalition of financial data services companies that are urging Congress to support legislation to adopt uniform data reporting standards for federal regulatory agencies. The Financial Data Transparency Act, introduced this week by Sen. Mark Warner, D-Va., and Sen. Mike Crapo, R-Idaho, would direct eight major U.S. financial regulatory agencies to adopt uniform, machine-readable data standards for the information they are already required to collect from regulated entities. The proposal complements other legislative efforts to transform government data into open, smart, searchable and downloadable formats without proprietary restrictions, Workiva CEO Marty Vanderploeg said in a statement. “At a time when bipartisan support for issues is hard to come by, the Financial Data Transparency Act demonstrates that innovation and capital market efficiency are areas for agreement,” Vanderploeg said. “With the technology available to our financial regulatory agencies today, this legislation is a game-changer, ensuring consistency and transparency across the board.” Workiva is an executive member of the Data Coalition, which also announced its support for the legislation and developed a fact sheet. The coalition is an initiative of the nonprofit Data Foundation and includes leaders from across the data industry dedicated to improving government data and decision-making.

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