This week saw the official launch of a new lobbyist body focused on promoting data transparency within regulatory and government quarters. Dubbed the Data Transparency Coalition (DTC -- not to be confused with the other DTC), the group is spearheaded by ex-Securities and Exchange Commission legal eagle and government counsel Hudson Hollister. According to the PR, the group is all for “advocating for common sense initiatives that encourage the productivity and transparency necessary for government reform”; hence, the legal entity identifier (LEI) initiative has been added to the group’s list of objectives.
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Last week, with surprisingly little fanfare as America was winding down for the holiday weekend, President Obama signed the JOBS (Jumpstart Our Business Startups) Act into law. The law is certainly among the most promising pieces of bipartisan legislation introduced during this term and is certain to increase President Obama’s chances for re-election, especially given that his presumptive opponent’s strong suit is his success in business and his promise to repair the economy.
It is said that a rising tide lifts all boats. The U.S. insurance industry stands to benefit as much, and perhaps even more, than its counterparts in the financial services industry as the resulting demand for a wide variety of commercial insurance products emerges.