How does “other” business interests of proposing IRSB’s conflict with the requirement to be neutral and not-for-profit?
A. Responsibility for maintaining the underlying data mechanism for an early warning system to detect financial instability should not be turned over to those who have businesses that might compete for management attention or resources. Such a critical role as administering the identification standards, especially when the administration of the numbering system is to done as a not-for-profit needs to be a full-time and sole activity of any IRSB chosen. Implementation Q. How will the GS1 system of standards be implemented in a timely fashion as required by regulation? A. The initial mechanism for bringing unique, unambiguous and universal (U3) identifiers into financial institutions and FMUs may be through data providers who will be expected to synchronize (map) with the GS1 Registry of Identifiers and be certified under GS1’s Certification Protocol. These data providers already bring proprietary identifiers into the industry’s legacy systems. The mechanism to report to government regul
