Functions and Firms: Using Activity and Entity-based Regulation to Strengthen the Financial System conference

The U.S. Office of Financial Research and the University of Michigan’s Center on Finance, Law & Policy hosted their fourth annual Financial Stability Conference on November 15-16, 2018, at the Department of the Treasury in Washington, D.C.

Background: In 2017-2018, the U.S. Treasury Department released a series of major reports on core principles for financial regulation, signaling a move toward an activities-based approach to financial stability risk monitoring and regulation. How should regulators pursue an activities-based approach to promoting financial stability? How can our regulatory structure adapt to this approach, particularly given the rise of financial technology and emerging financial products? For an activities-based approach to be effective and efficient, what kind of data do regulators need to be able to access? In addressing these challenges, what can we learn from other countries, industries, and academic disciplines?

During this conference, regulators, policymakers, lawyers, economists, financial institutions, investors, financial technology companies, and experts on data science, cybersecurity, and finance addressed these questions.

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