In our last blog posting, we summarized the Obama administration’s proposed financial services industry regulatory reforms, as set forth in its “New Foundation” white paper. The following are some of the possible business impacts of the changes, if enacted into law:
The following IT impacts may result from the proposed new regulatory regime:
In light of the complexity of the regulatory changes proposed in the New Foundation White Paper and the significant business and IT impacts of those changes, we plan to make additional postings that examine some of the specific New Foundation proposals, with updates as to what legislation in the U.S. Congress has been introduced to implement the proposals.
 See http://www.financialstability.gov/docs/regs/FinalReport_web.pdf.
Jeff Jinnett is Governance, Risk Management & Compliance Industry Market Development Manager, US Financial Services Group, for Microsoft Corporation. Mr. Jinnett is a former partner of the international law firm of LeBoeuf, Lamb, Greene & MacRae, LLP (now Dewey & LeBoeuf) and has experience in advising Fortune 500 companieis in the financial services industry on the use of technology to support corporate governance, risk management and compliance programs. Mr. Jinnett has testified as an expert before committees of the US Senate on issues relating to the intersectiion of law and technology. He is a member of ARMA (a records and information management professional association) and the Society of Corporate Compliance & Ethics (SSCE).