On May 13, 2011, the International Organization for Standardization
(ISO) and the National Standards Body of the Netherlands (NEN) will host a workshop in Amsterdam to examine the current and future needs of the global financial services industry.
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Through the work of ISO Technical Committee (TC) 68, Financial Services, ISO develops standards in the field of banking, securities, and other financial services. The American National Standards Institute (ANSI) holds the Secretariat of ISO TC 68, which has been delegated to Accredited Standards Committee X9 (X9), and Karla McKenna of Citigroup serves as the technical committee chair. X9 also administers the ANSI-accredited U.S. Technical Advisory Group (TAG) to ISO TC 68 and its subcommittees. Personal Financial Planning
ISO standards for personal financial planning are developed by ISO TC 222; Diesslin & Associates serves as the U.S. TAG to ISO TC 222.
According to workshop organizers, the financial services industry has reached a crossroads following the 2008 financial market crisis; regulators and market players are facing substantial challenges in their effort to restore public confidence and create effective, long-lasting conditions to help prevent a similar crisis in the future.
The workshop will examine current ISO activities in this area, and explore the need for potential additional activities to support evolving business needs, innovation, and regulatory requirements.
Among the topics to be discussed are the use of standards by regulators and market players in response to post-crisis reporting requirements, standards to support transaction-based business, and consumer-focused issues such as privacy management and fraud protection.
Additional details on the event, including registration and a draft agenda, are available here.