cbdc:public:cbdc_omg:04_doc:15_common:05_stakeholder:start
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| ====== 4.1 Stakeholders ====== | ====== 4.1 Stakeholders ====== | ||
| - | [[cbdc:public:cbdc_omg:04_doc:15_common:start| Return to Common Elements]] | ||
| - | |||
| |< 100% >| | |< 100% >| | ||
| | [[cbdc:public:cbdc_omg:04_doc:15_common:start| Return to Common Elements]] | <WRAP> | | [[cbdc:public:cbdc_omg:04_doc:15_common:start| Return to Common Elements]] | <WRAP> | ||
| <html><b> | <html><b> | ||
| - | <a href="mailto:[email protected]?Subject=OMG CBDC Response: | + | <a href="mailto:[email protected]?Subject=OMG's CBDC WG Response: |
| 4.1 Stakeholders | 4.1 Stakeholders | ||
| Line 19: | Line 17: | ||
| * A CBDC stakeholder has a vested interest in a CBDC effort and can either affect or be affected by a CBDC effort's operations and performance | * A CBDC stakeholder has a vested interest in a CBDC effort and can either affect or be affected by a CBDC effort's operations and performance | ||
| - | * Typical CBDC stakeholders are the customers, suppliers of goods, services, [[https://www.omgwiki.org/CBDC/doku.php?id=cbdc:private:cbdc_omg:04_doc:15_common:05_stakeholder:start#us_federal_government_oversight_authorities| U.S. Federal Authorities]], and [[https://www.omgwiki.org/CBDC/doku.php?id=cbdc:private:cbdc_omg:04_doc:15_common:05_stakeholder:start#non-us_federal_government_oversight_authorities | non-U.S. Federal Authorities]] | + | * Typical CBDC stakeholders are the customers, suppliers of goods, services, [[https://www.omgwiki.org/CBDC/doku.php?id=cbdc:public:cbdc_omg:04_doc:15_common:05_stakeholder:start#us_federal_government_oversight_authorities| U.S. Federal Authorities]], and [[https://www.omgwiki.org/CBDC/doku.php?id=cbdc:public:cbdc_omg:04_doc:15_common:05_stakeholder:start#non-us_federal_government_oversight_authorities | non-U.S. Federal Authorities]] |
| - | * CBDC stakeholders can be both internal or external to the CBDC effort. | + | * CBDC stakeholders can be both internal and external to the CBDC effort. |
| There are two "Desirements"(( | There are two "Desirements"(( | ||
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| ^ B0006 ^ 2 ^ Provide broad support from key stakeholders| | ^ B0006 ^ 2 ^ Provide broad support from key stakeholders| | ||
| ^ P0006 ^ 2 ^ Garner broad support from key stakeholders | | ^ P0006 ^ 2 ^ Garner broad support from key stakeholders | | ||
| - | | **''B''** = [[cbdc:public:cbdc_omg:04_doc:12_summary:start#benefits| Benefit Considerations ]] ||| | + | | **''B''** = [[cbdc:public:cbdc_omg:04_doc:12_summary:start#benefit_considerations| Benefit Considerations ]] ||| |
| | **''P''** = [[cbdc:public:cbdc_omg:04_doc:12_summary:start#policy_considerations| Policy Considerations]] ||| | | **''P''** = [[cbdc:public:cbdc_omg:04_doc:12_summary:start#policy_considerations| Policy Considerations]] ||| | ||
| - | | **''R''** = [[cbdc:public:cbdc_omg:04_doc:12_summary:start#risks| Risk Considerations ]] ||| | + | | **''R''** = [[cbdc:public:cbdc_omg:04_doc:12_summary:start#risk_considerations| Risk Considerations ]] ||| |
| - | | **''D''** = [[cbdc:public:cbdc_omg:04_doc:12_summary:start#design| Design Considerations]] ||| | + | | **''D''** = [[cbdc:public:cbdc_omg:04_doc:12_summary:start#design_considerations| Design Considerations]] ||| |
| </table> | </table> | ||
| \\ | \\ | ||
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| ^Potential Oversight Authorities ^ No. of Stakeholders | | ^Potential Oversight Authorities ^ No. of Stakeholders | | ||
| - | ^ [[https://www.omgwiki.org/CBDC/doku.php?id=cbdc:private:cbdc_omg:04_doc:15_common:05_stakeholder:start#us_federal_government_oversight_authorities | U.S. Federal Government Oversight Authorities ]] | 14 | | + | ^ [[https://www.omgwiki.org/CBDC/doku.php?id=cbdc:public:cbdc_omg:04_doc:15_common:05_stakeholder:start#us_federal_government_oversight_authorities | U.S. Federal Government Oversight Authorities ]] | 14 | |
| ^ [[https://www.omgwiki.org/CBDC/doku.php?id=cbdc_omg:04_doc:15_common:45_privacy:start#us_state_laws_and_regulations | non-U.S. Federal Government Oversight Authorities ]] | 19 | | ^ [[https://www.omgwiki.org/CBDC/doku.php?id=cbdc_omg:04_doc:15_common:45_privacy:start#us_state_laws_and_regulations | non-U.S. Federal Government Oversight Authorities ]] | 19 | | ||
| ^ Total ^ **33** | | ^ Total ^ **33** | | ||
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| [[cbdc:public:cbdc_omg:04_doc:15_common:05_stakeholder:start| Return to Top]] | [[cbdc:public:cbdc_omg:04_doc:15_common:05_stakeholder:start| Return to Top]] | ||
| - | Table {{ref>nonUsAuthorites}} provides a list of authorities that are not within the U.S. and have oversight over financial services. Each of the Countries that the organization is associated with is provided in the first column. A few organizations are umbrella organizations covering several countries and are declared as **''international''**. | + | Table {{ref>nonUsAuthorites}} provides a list of authorities that are not within the U.S. and have oversight over financial services. Each of the Countries that the organization is associated with is provided in the first column. A few organizations are umbrella organizations covering several countries and are declared **''international''**. |
| There are at least 18 non-U.S. Federal Government Authorities with financial oversight. | There are at least 18 non-U.S. Federal Government Authorities with financial oversight. | ||
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| </WRAP>| | </WRAP>| | ||
| ^ ^ [[https://www.omgwiki.org/dido/doku.php?id=didopublic:ra:xapend:xapend.a_glossary:p:pra | Prudential Regulation Authority (PRA)]] | <WRAP> | ^ ^ [[https://www.omgwiki.org/dido/doku.php?id=didopublic:ra:xapend:xapend.a_glossary:p:pra | Prudential Regulation Authority (PRA)]] | <WRAP> | ||
| - | The **PRA** is a part of the Bank of England and is responsible for the prudent regulation and supervision of banks, building societies, credit unions, insurers and major investment firms. It sets standards and supervises financial institutions at the level of the individual firm. | + | The **PRA** is a part of the Bank of England and is responsible for the prudent regulation and supervision of banks, building societies, credit unions, insurers, and major investment firms. It sets standards and supervises financial institutions at the level of the individual firm. |
| </WRAP>| | </WRAP>| | ||
| ^ ^ [[https://www.omgwiki.org/dido/doku.php?id=didopublic:ra:xapend:xapend.a_glossary:f:fca | Financial Conduct Authority (FCA)]] | <WRAP> | ^ ^ [[https://www.omgwiki.org/dido/doku.php?id=didopublic:ra:xapend:xapend.a_glossary:f:fca | Financial Conduct Authority (FCA)]] | <WRAP> | ||
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| </WRAP>| | </WRAP>| | ||
| ^ Germany ^ [[https://www.omgwiki.org/dido/doku.php?id=didopublic:ra:xapend:xapend.a_glossary:b:bafin | Federal Financial Supervisory Authority (BaFin)]] | <WRAP> | ^ Germany ^ [[https://www.omgwiki.org/dido/doku.php?id=didopublic:ra:xapend:xapend.a_glossary:b:bafin | Federal Financial Supervisory Authority (BaFin)]] | <WRAP> | ||
| - | **BaFin** integrates the regulatory functions of those agencies with authority over Germany’s banks, financial services companies, insurance companies, stock exchanges, and other obligated institutions. An important part of BaFin’s role as regulator is to identify and eliminate financial crime – a function which includes promoting anti-money laundering in Germany, and counter-terrorist financing. | + | **BaFin** integrates the regulatory functions of those agencies with authority over Germany’s banks, financial services companies, insurance companies, stock exchanges, and other obligated institutions. An important part of BaFin’s role as regulator is to identify and eliminate financial crime – a function that includes promoting anti-money laundering in Germany, and counter-terrorist financing. |
| </WRAP>| | </WRAP>| | ||
| ^ France ^ [[https://www.omgwiki.org/dido/doku.php?id=didopublic:ra:xapend:xapend.a_glossary:a:amf | Autorité des marchés financiers (AMF)]] | <WRAP> | ^ France ^ [[https://www.omgwiki.org/dido/doku.php?id=didopublic:ra:xapend:xapend.a_glossary:a:amf | Autorité des marchés financiers (AMF)]] | <WRAP> | ||
| Line 150: | Line 148: | ||
| It is also charged with keeping the nation’s markets and financial services industry free of fraud and money laundering. | It is also charged with keeping the nation’s markets and financial services industry free of fraud and money laundering. | ||
| - | Additionally, France’s AMF is a rules-setter and responsible for implementing the EU’s 2018 [[https://www.omgwiki.org/dido/doku.php?id=didopublic:ra:xapend:xapend.a_glossary:m:mifid_ii | Markets in Financial Instruments Directive II (MiFID II)]] directive as well as its own General Regulation. | + | Additionally, France’s AMF is a rules-setter and is responsible for implementing the EU’s 2018 [[https://www.omgwiki.org/dido/doku.php?id=didopublic:ra:xapend:xapend.a_glossary:m:mifid_ii | Markets in Financial Instruments Directive II (MiFID II)]] directive as well as its own General Regulation. |
| </WRAP>| | </WRAP>| | ||
| ^ Singapore ^ [[https://www.omgwiki.org/dido/doku.php?id=didopublic:ra:xapend:xapend.a_glossary:m:mas | Monetary Authority of Singapore (MAS)]] | <WRAP> | ^ Singapore ^ [[https://www.omgwiki.org/dido/doku.php?id=didopublic:ra:xapend:xapend.a_glossary:m:mas | Monetary Authority of Singapore (MAS)]] | <WRAP> | ||
| - | The **MAS** is empowered by the Monetary Authority of Singapore Act to set regulations and supervise the city’s banking, capital markets, insurance and payments sectors. The organization enforces its regulations and government laws through legally binding instructions called Directions. They may take the form of Directives, which are issued to specific entities or individuals, and Notices, which cover a class of asset, institution or person, such as loans or loan issuers. | + | The **MAS** is empowered by the Monetary Authority of Singapore Act to set regulations and supervise the city’s banking, capital markets, insurance, and payments sectors. The organization enforces its regulations and government laws through legally binding instructions called Directions. They may take the form of Directives, which are issued to specific entities or individuals, and Notices, which cover a class of asset, institution, or person, such as loans or loan issuers. |
| </WRAP>| | </WRAP>| | ||
| ^ Switzerland ^ [[https://www.omgwiki.org/dido/doku.php?id=didopublic:ra:xapend:xapend.a_glossary:f:finma | Financial Market Supervisory Authority (FINMA)]] | <WRAP> | ^ Switzerland ^ [[https://www.omgwiki.org/dido/doku.php?id=didopublic:ra:xapend:xapend.a_glossary:f:finma | Financial Market Supervisory Authority (FINMA)]] | <WRAP> | ||
| - | **FINMA** is Switzerland’s independent financial-markets regulator. Its mandate is to supervise banks, insurance companies, financial institutions, collective investment schemes, and their asset managers and fund management companies. It also regulates insurance intermediaries. It is charged with protecting creditors, investors and policyholders. FINMA is responsible for ensuring that Switzerland’s financial markets function effectively. | + | **FINMA** is Switzerland’s independent financial-markets regulator. Its mandate is to supervise banks, insurance companies, financial institutions, collective investment schemes, and their asset managers and fund management companies. It also regulates insurance intermediaries. It is charged with protecting creditors, investors, and policyholders. FINMA is responsible for ensuring that Switzerland’s financial markets function effectively. |
| </WRAP>| | </WRAP>| | ||
| ^ People's Republic of China ^ [[https://www.omgwiki.org/dido/doku.php?id=didopublic:ra:xapend:xapend.a_glossary:c:cbrc | China Banking Regulatory Commission (CBRC)]] | <WRAP> | ^ People's Republic of China ^ [[https://www.omgwiki.org/dido/doku.php?id=didopublic:ra:xapend:xapend.a_glossary:c:cbrc | China Banking Regulatory Commission (CBRC)]] | <WRAP> | ||
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| [[cbdc:public:cbdc_omg:04_doc:15_common:05_stakeholder:start| Return to Top]] | [[cbdc:public:cbdc_omg:04_doc:15_common:05_stakeholder:start| Return to Top]] | ||
| - | Some of the "desirements" in the [[https://www.federalreserve.gov/publications/files/money-and-payments-20220120.pdf | Money and Payments: The U.S. Dollar in the Age of Digital Transformation]] **White Paper** relating to [[cbdc:public:cbdc_omg:8_append:20_glossary:cbdc]] **Stakeholders** are summarized in the [[cbdc:public:cbdc_omg:04_doc:12_summary:start| White Paper Analysis]] done by the [[https://www.omg.org/ | Object Management Group ]] and listed in Table {{ref>stakeholderReq}}. | + | Some of the "desirements" in the [[https://www.federalreserve.gov/publications/files/money-and-payments-20220120.pdf | Money and Payments: The U.S. Dollar in the Age of Digital Transformation]] **White Paper** relating to [[cbdc:public:cbdc_omg:8_append:20_glossary:cbdc]] **Stakeholders** are summarized in the [[cbdc:public:cbdc_omg:04_doc:12_summary:start| White Paper Analysis]] done by the [[https://www.omg.org/ | Object Management Group's ]] CBDC WG and listed in Table {{ref>stakeholderReq}}. |
| <table stakeholderReq> | <table stakeholderReq> | ||
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| - | Table {{ref>shareholderReqComment}} provides a comment for those "desirements" identified by the in [[https://www.omgwiki.org/CBDC/doku.php?id=cbdc:private:cbdc_omg:15_summary:start&do=edit | White Paper]] and identified by the [[https://www.omgwiki.org/CBDC/doku.php?id=cbdc:private:cbdc_omg:15_summary:start | OMG's White Paper Analysis]] relating to [[cbdc:public:cbdc_omg:8_append:20_glossary:cbdc]] Stakeholders. See: Table {{ref>stakeholderReq}}. | + | Table {{ref>shareholderReqComment}} provides a comment for those "desirements" identified by the in [[https://www.omgwiki.org/CBDC/doku.php?id=cbdc:public:cbdc_omg:15_summary:start&do=edit | White Paper]] and identified by the [[https://www.omgwiki.org/CBDC/doku.php?id=cbdc:public:cbdc_omg:15_summary:start | OMG's White Paper Analysis]] relating to [[cbdc:public:cbdc_omg:8_append:20_glossary:cbdc]] Stakeholders. See: Table {{ref>stakeholderReq}}. |
| <table shareholderReqComment> | <table shareholderReqComment> | ||
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| </WRAP>| | </WRAP>| | ||
| ^ P0020 ^ The private sector would offer accounts or digital wallets to facilitate the management of CBDC holdings and payments | <WRAP> | ^ P0020 ^ The private sector would offer accounts or digital wallets to facilitate the management of CBDC holdings and payments | <WRAP> | ||
| - | This includes both the current Intermediaries and Entenprenuers to be included as Stakeholders. | + | This includes both the current Intermediaries and Entrepreneurs to be included as Stakeholders. |
| </WRAP>| | </WRAP>| | ||
| ^ P0021 ^ The intermediaries would operate in an open market for CBDC services | <WRAP> | ^ P0021 ^ The intermediaries would operate in an open market for CBDC services | <WRAP> | ||
| - | To create an open market, the intermediaries would have publish and adhere to standards. This would mean one or more [[https://www.omgwiki.org/dido/doku.php?id=dido:public:ra:xapend:xapend.a_glossary:s:sdo | Standards Developing Organization (SDO)]] need to be included as Stakeholders. | + | To create an open market, the intermediaries would have to publish and adhere to standards. This would mean one or more [[https://www.omgwiki.org/dido/doku.php?id=dido:public:ra:xapend:xapend.a_glossary:s:sdo | Standards Developing Organization (SDO)]] need to be included as Stakeholders. |
| </WRAP>| | </WRAP>| | ||
| ^ P0023 ^ CBDC would need to be readily transferable between customers of different intermediaries | <WRAP> | ^ P0023 ^ CBDC would need to be readily transferable between customers of different intermediaries | <WRAP> | ||
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| </WRAP>| <WRAP> | </WRAP>| <WRAP> | ||
| : 1. common standards - See: [[https://www.omgwiki.org/dido/doku.php?id=dido:public:ra:xapend:xapend.a_glossary:s:sdo | Standards Developing Organization (SDO)]] as Stakeholders. | : 1. common standards - See: [[https://www.omgwiki.org/dido/doku.php?id=dido:public:ra:xapend:xapend.a_glossary:s:sdo | Standards Developing Organization (SDO)]] as Stakeholders. | ||
| - | : 2. the types of intermediaries able to access any new infrastructure make the intermediaries as Stakeholders. | + | : 2. the types of intermediaries able to access any new infrastructure make the intermediaries Stakeholders. |
| : 3. legal frameworks - See: [[https://www.omgwiki.org/dido/doku.php?id=dido:public:ra:xapend:xapend.a_glossary:s:sdo | Standards Developing Organization (SDO)]] as Stakeholders. | : 3. legal frameworks - See: [[https://www.omgwiki.org/dido/doku.php?id=dido:public:ra:xapend:xapend.a_glossary:s:sdo | Standards Developing Organization (SDO)]] as Stakeholders. | ||
| : 4. preventing illicit transactions - See: [[cbdc:public:cbdc_omg:04_doc:15_common:05_stakeholder:start#us_federal_government_oversight_authorities| U.S. Federal Government Oversight Authorities]] as Stakeholders. | : 4. preventing illicit transactions - See: [[cbdc:public:cbdc_omg:04_doc:15_common:05_stakeholder:start#us_federal_government_oversight_authorities| U.S. Federal Government Oversight Authorities]] as Stakeholders. | ||
cbdc/public/cbdc_omg/04_doc/15_common/05_stakeholder/start.1652743544.txt.gz · Last modified: 2022/05/16 19:25 by terrance
