Financial sector stakeholders address information sharing gaps, small business concerns

SAN FRANCISCO. Stakeholders in the financial sector weighed in on the current regulatory environment, enhancing information sharing and the needs of small businesses, on a panel here at the RSA conference.

Information sharing over potential incidents needs to happen quickly, according to Federal Reserve Board associate director Todd Conklin, who argued that the current 36-hour notification requirement for prudential regulators doesn’t mean firms should wait until the last hour to report.

The Treasury Department and the Federal Reserve need...