Big Data, Hedge Funds, Securities Regulation, and Privacy: Mitigating Liability in a Changing Legal Landscape
OCC and FDIC Propose “Madden Fix” Rules to Codify “Valid-When-Made” Principle

Final Version of the Big Data Interoperability Framework Released by NIST

By: Alexander N. Ghantous

Data  platformsThe National Institute of Standards and Technology (NIST) announced on October 29, 2019, that the final, nine-volume version of the “NIST Big Data Interoperability Framework” (Framework) has been published.[1]  The Framework, which was developed by NIST in collaboration with hundreds of experts from an array of industries, provides ways developers can utilize the same data-analyzing software tools on any computing platform.[2]  Under the Framework, analysts can transfer their work to different platforms and use more sophisticated algorithms without revamping their environment.[3]  This interoperability provides a solution to data scientists who are tasked with analyzing increasingly diverse data sets from a multitude of platforms.[4]  Consequently, it could also play a role in solving modern day difficulties that include, but are not limited to, detecting health-care fraud and issues that arise during weather forecasting.[5]

 

[1]Nat’l Inst. of Standards and Tech., https://www.nist.gov/news-events/news/2019/10/nist-final-big-data-framework-will-help-make-sense-our-data-drenched-age (Oct. 29, 2019).

[2] Id

[3] Id

[4] Id.

[5] Id