2025-01-28 Meeting notes
- Elisa Kendall
Date
Jan 28, 2025
Participants
@Elisa Kendall
@John Gemski
@Pete Rivett
@Mark Flood
@Rishav Sarma (Scotiabank) joined briefly
Discussion
Today we talked about some of the requests coming in from EY and Huntington, and the need for an approach to business entities that includes both US and EU rather than being more US focused (from their perspective, which may be old).
The Digital Operational Resilience Act (DORA) is a European Union (EU) regulation that aims to improve the cybersecurity resilience of financial institutions. DORA entered into force on January 16, 2023 and applies from January 17,
https://delano.lu/article/disagreement-between-esas-and- - related to whether or not the GLEIF identifier should be used for entity identification
See also Cyber resilience and https://r.search.yahoo.com/_ylt=Awr.wJctSZlnypgCM6RXNyoA;_ylu=Y29sbwNncTEEcG9zAzQEdnRpZAMEc2VjA3Ny/RV=2/RE=1739308590/RO=10/RU=https%3a%2f%2fwww.esma.europa.eu%2fesmas-activities%2fdigital-finance-and-innovation%2fdigital-operational-resilience-act-dora/RK=2/RS=alXs_As41Ph9rns.QTUWUwHvMnc-
We also talked about the OMG Financial Sector RFI and approach for adding semantics to data sets and discussed use of the NIC repository as one source.
See https://tinyurl.com/y8ruf2bu and https://www.ffiec.gov/npw/FinancialReport/DataDownload
Another direction we might pursue would involved tokenization. There are competing interests and requirements with respect to doing this ‘out in the wild’, but how it will play out is not clear. Working on something related to digital assets would be right in line with what some of the regulators want to do, although some want to retain a more wild west approach.