Microsoft is leading this group through chief security strategist Scott Charney, along with Ron Moritz, head of Computer Associates International Inc's security products, and Catherine Allen, CEO of the Banking Industry Technology Secretariat.
These include: * A ruling from the US Federal Trade Commission that the term "financial institution" includes account aggregators for the purposes of privacy regulation; * The possibility that the US Federal Reserve will issue guidance on whether the Electronic Funds Transfer Act applies to aggregation or screen scraping services; * The release of guidance from the US Office of the Comptroller of the Currency to banks on the risks of offering aggregation services, and the management controls that are needed to minimise those risks; and the release of voluntary guidelines for aggregation services, developed by the Banking Industry Technology Secretariat, an industry group in the US.
The Banking Industry Technology Secretariat (BITS), a consortium of financial institutions that addresses "emerging issues where financial services, technology and commerce intersect," has created a matrix to help identify and address computer-security risks and regulatory compliance issues that arise in connection with outsourcing.
Some of the approaches to date may not be pragmatic from an implementation perspective," said Gary Roboff, a senior vice president of Chase, who has studied many of the alternatives and has been especially vocal on these matters within the Financial Services Roundtable's Banking Industry Technology Secretariat.
Keynote speakers will be John Burke, senior partner of US law firm, Foley, Hoag and Eliot LLP and Catherine Allen, chief executive of the Banking Industry Technology Secretariat (BITS) in the US, a division of the influential Financial Services Roundtable.
The growth of electronic commerce depends on trust," said Gary Roboff, chairman of Banking Industry Technology Secretariat (BITS) Research & Planning Steering Committee, which focuses on privacy issues.
He is a former director of the Bankers Roundtable, and currently serves on the board of its Banking Industry Technology Secretariat and as a member of its Banking and Financial Markets Committee.
