Workiva Supports Reintroduction of the Financial Transparency Act in the U.S. House of Representatives
05/06/2021 - 09:00 AM
Workiva Inc. (NYSE:WK), today announced its support of the reintroduction of the Financial Transparency Act (FTA) (H.R. 2989) in the 117th U.S. Congress by Reps. Carolyn Maloney (D-NY) and Patrick McHenry (R-NC).
The FTA proposes the establishment of a framework that will improve the efficiency of regulatory reporting by requiring eight major U.S. financial regulatory agencies to adopt consistent data fields and formats, including uniform, machine-readable data standards and non-proprietary, legal entity identifiers for regulated entities. Additionally, the FTA directs financial regulatory agencies to make their reporting information electronically searchable, downloadable in bulk, and available without license restrictions or fees.
“The Financial Transparency Act is common-sense legislation that will drive innovation and efficiency,” said Marty Vanderploeg, chief executive officer of Workiva. “We continue to be encouraged by the federal government's progress in improving how agencies collect, use and publish data. There is a tremendous opportunity unlocked when trusted and transparent data are reported.”
Workiva works with the Data Coalition , a membership-based initiative that advocates for responsible policies to make government data high-quality, accessible, and usable, and has been supporting lawmakers on the reintroduction of the bipartisan bill.
Find out more information on the FTA and the efforts of Workiva and the Data Coalition .
About Workiva
Workiva Inc. (NYSE: WK) simplifies complex work for thousands of organizations worldwide. Customers trust Workiva’s open, intelligent and intuitive platform to connect data, documents and teams. The results: improved efficiency, greater transparency and less risk. Learn more at workiva.com .
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About WK
workiva (nyse:wk) created wdesk, a cloud-based productivity platform for enterprises to collect, link, report, and analyze business data with control and accountability. thousands of organizations, including over 65 percent of the fortune 500, use wdesk for risk, compliance, or management reporting. wdesk proprietary word processing, spreadsheet, and presentation applications are integrated and built upon a data management engine, offering synchronized data, controlled collaboration, granular permissions, and a full audit trail. wdesk helps mitigate enterprise risk, improve productivity, and give users confidence to make decisions with real-time data. workiva employs more than 1,000 people with offices in 15 cities. the company is headquartered in ames, iowa. for more information, visit workiva.com.
