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Workiva Supports Reintroduction of the Financial Transparency Act in the U.S. House of Representatives

Published: 2021-05-06 13:00:00 ET

Bipartisan Bill Promises to Reduce Regulatory Burdens and Create Trusted Transparency in Federal Government Data

AMES, Iowa--(BUSINESS WIRE)-- Workiva Inc. (NYSE:WK), today announced its support of the reintroduction of theFinancial 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 theData 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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View source version on businesswire.com: https://www.businesswire.com/news/home/20210506005214/en/

Media Contact: Kevin McCarthyWorkiva Inc. (515) 663-4471 press@workiva.com

Investor Relations Contact: Adam TereseWorkiva Inc. (515) 663-4493 investor@workiva.com

Source: Workiva Inc.

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All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.