About a-team Marketing Services

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

Upcoming Webinar: How to maximise the use of data standards and identifiers beyond compliance and in the interests of the business

Date: 18 July 2024 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes Data standards and identifiers have become common currency in regulatory compliance, bringing with them improved transparency, efficiency and data quality in reporting. They also contribute to automation. But their value does not end here, with data standards and identifiers...

BLOG

A Dive into the Detail of the Financial Data Transparency Act’s Data Standards Requirements

As the June 2024 deadline looms for US regulators within the scope of the Financial Data Transparency Act (FTDA) to provide joint rules on data standards and reporting formats, the question of what these standards and formats will be remains open. Front runners are the Legal Entity Identifier (LEI) and eXtensible Business Reporting Language (XBRL),...

EVENT

Data Management Summit London

Now in its 14th year, the Data Management Summit (DMS) in London brings together the European capital markets enterprise data management community, to explore how data strategy is evolving to drive business outcomes and speed to market in changing times.

GUIDE

Regulatory Data Handbook 2023 – Eleventh Edition

Welcome to the eleventh edition of A-Team Group’s Regulatory Data Handbook, a popular publication that covers new regulations in capital markets, tracks regulatory change, and provides advice on the data, data management and implementation requirements of more than 30 regulations across UK, European, US and Asia-Pacific capital markets. This edition of the handbook includes new...