by Craig Donner
DTCC has stepped up its communications campaign to further raise awareness of the company in Washington, D.C., and to draw greater attention to public policy issues of concern to the industry. The enhanced communications program comes as regulators work on revising certain proposed rules in anticipation of the deadline for implementing the Dodd-Frank Act.
As part of the campaign, DTCC officials have begun to regularly post opinion pieces on Capitol Hill-based blogs to comm-unicate directly with key stakeholders in the debate, including reporters and editors, Members of Congress, Congressional staff and regulators.
“Communication is a critical element of our overall strategy to shape the debate on Dodd-Frank and share with policymakers our nearly 40 years of experience providing certainty, stability and reliability to global financial markets,” said Larry Thompson, DTCC managing director and general counsel. “It also enhances DTCC’s role as a thought leader on financial issues and strengthens our voice in the legislative and regulatory processes.”
DTCC is leveraging a variety of channels to get its messages out quickly and cost-effectively to a targeted audience.
One example of this strategy is a recent article, published on The Hill’s Congress blog, that highlighted the indemnification provision of Dodd-Frank and the dangers of data fragmentation in the over-the-counter (OTC) derivatives market. The article was the second-most-emailed post on the website several days after it was published.
“The issue of indemnification has mostly flown under the radar until this point,” said Thompson. “The article was critical in bringing indemnification to the attention of the legislative and regulatory communities and underscoring the urgency of resolving the matter before the provision is enforced.”
In addition, DTCC recently launched a new podcast series, entitled Financial Reform In-Focus, featuring interviews with company executives and others on hot topics in the financial reform debate. Recent podcasts have included an interview with Congressman Michael Grimm (R-NY) on the latest developments in Congress and a discussion with DTCC’s Thompson on the extra-territorial application of U.S. law to Europe and other countries.
The podcast is hosted by Dan Cohen, DTCC managing director, Government Relations, and produced by DTCC Corporate Communications and Public Affairs. It is available for listening and viewing on www.dtcc.com and on iTunes.
DTCC also publishes a bimonthly newsletter targeted to policymakers and media in Washington, D.C., and Brussels. The newsletter, Across The Pond, provides a thumbnail sketch of financial regulatory reform activities in the United States and European Union.
Other activities in DTCC’s communications outreach program include hosting members of Congress and regulators for briefings on the company’s operations in New York (see article) and the development of a new government relations section on www.dtcc.com that will hold a broad range of documents and information on the company’s external affairs work. @
Email email@example.com to be placed on the mailing list for Across the Pond or to receive the Financial Reform In-Focus podcasts.