About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

US Senate Names Former Morgan Stanley Economist Berner as OFR Director

Subscribe to our newsletter

The US Senate has named former Morgan Stanley executive Richard Berner as the first director of the Office of Financial Research (OFR). The OFR was set up under the Dodd-Frank legislation within the US Treasury Department and charged with tasks such as the development of a global legal entity identifier (LEI) system that will improve the quality and transparency of financial data, and provide greater understanding of any threats to financial stability.

Berner has served as counsellor to the Secretary of the Treasury since April 2011 and in this role helped to set up the OFR, which supports the work of the Financial Stability Oversight Council, a body of regulators that was also created by Dodd-Frank. Before moving to the treasury, Berner was a managing director, co-head of global economics and chief US economist at Morgan Stanley.

Commenting on Berner’s appointment to director of the OFR, Secretary of the Treasury Tim Geithner, says: “Dick has been instrumental in treasury efforts to stand up the OFR and enhance our understanding of risk across the financial system. His dedication and creativity have helped lay the groundwork for the office to fulfil its essential role in support of Wall Street reform, including improving financial data and serving the Financial Stability Oversight Council.”

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Hearing from the Experts: AI Governance Best Practices

The rapid spread of artificial intelligence in the financial industry presents data teams with novel challenges. AI’s ability to harvest and utilize vast amounts of data has raised concerns about the privacy and security of sensitive proprietary data and the ethical and legal use of external information. Robust data governance frameworks provide the guardrails needed...

BLOG

From Batch to Real-Time: LSEG Reinvents AML Screening with World-Check On Demand

As financial institutions accelerate toward real-time payments and digital onboarding, compliance teams face mounting pressure to keep customer screening instant, accurate and demonstrable. In response, the London Stock Exchange Group (LSEG) has introduced World-Check On Demand – a new cloud-based service designed to deliver “real-time risk intelligence” through API integration, allowing institutions to embed sanctions...

EVENT

TradingTech Summit New York

Our TradingTech Briefing in New York is aimed at senior-level decision makers in trading technology, electronic execution, trading architecture and offers a day packed with insight from practitioners and from innovative suppliers happy to share their experiences in dealing with the enterprise challenges facing our marketplace.

GUIDE

The DORA Implementation Playbook: A Practitioner’s Guide to Demonstrating Resilience Beyond the Deadline

The Digital Operational Resilience Act (DORA) has fundamentally reshaped the European Union’s financial regulatory landscape, with its full application beginning on January 17, 2025. This regulation goes beyond traditional risk management, explicitly acknowledging that digital incidents can threaten the stability of the entire financial system. As the deadline has passed, the focus is now shifting...