Sunday, April 22 , 2018, 5:59 pm | Fair 68º

 
 
 
 

UCSB Scholar Named to Treasury Department Advisory Committee on Financial Research

The Dodd-Frank Wall Street Reform and Consumer Protection Act signed into law by President Barack Obama in 2010 brought the most significant changes to financial regulation in the United States since the reforms that followed the Great Depression of the 1930s.

Jean-Pierre Fouque (Rod Rolle photo)
Jean-Pierre Fouque (Rod Rolle photo)

Among other provisions, Dodd-Frank established the Office of Financial Research within the U.S. Department of the Treasury. Serving the treasury department’s Financial Stability Oversight Council, its member agencies and the public, the OFR and its committees are charged with improving the quality, transparency and accessibility of financial data and information; conducting and sponsoring research related to financial stability; and promoting best practices in risk management.

Jean-Pierre Fouque, professor of statistics and applied probability at UC Santa Barbara and director of the campus’ Center for Research in Financial Mathematics and Statistics, has been named to the OFR’s Financial Research Advisory Committee.

The 30-member committee includes two Nobel laureates in economics; leaders in the business and nonprofit sectors; and prominent researchers from major universities and think tanks, including UC Berkeley, the Massachusetts Institute of Technology, the London School of Economics, Columbia University and the Brookings Institution.

The committee, which will hold its inaugural meeting on Dec. 5 in Washington, D.C., will work with the OFR to develop and employ best practices for data management, data standards and research methodologies.

“We are pleased that such a distinguished group will serve on the advisory committee of the OFR,” Deputy Secretary of the Treasury Neal Wolin said. “We look forward to their valuable contributions to the OFR’s mission of improving the quality of financial data and facilitating more robust and sophisticated analysis of risks to the financial system.”

Fouque said: “I am hoping to suggest to the OFR that we start funding multidisciplinary research with a direct link to the OFR. I’d like to identify key institutions where multidisciplinary groups could be formed with experts in math, economics, statistics, finance and engineering. They could submit proposals to the OFR and get funding for research.”

Fouque, who joined the faculty at UCSB in 2006, is an expert in financial mathematics; stochastic processes; stochastic partial differential equations; and waves in random media. He is co-editor of the forthcoming Handbook on Systemic Risk (Cambridge University Press), which provides researchers with an introduction to the multifaceted aspects of systemic risks faced by global financial markets.

 
  • Ask
  • Vote
  • Investigate
  • Answer

Noozhawk Asks: What’s Your Question?

Welcome to Noozhawk Asks, a new feature in which you ask the questions, you help decide what Noozhawk investigates, and you work with us to find the answers.

Here’s how it works: You share your questions with us in the nearby box. In some cases, we may work with you to find the answers. In others, we may ask you to vote on your top choices to help us narrow the scope. And we’ll be regularly asking you for your feedback on a specific issue or topic.

We also expect to work together with the reader who asked the winning questions to find the answer together. Noozhawk’s objective is to come at questions from a place of curiosity and openness, and we believe a transparent collaboration is the key to achieve it.

The results of our investigation will be published here in this Noozhawk Asks section. Once or twice a month, we plan to do a review of what was asked and answered.

Thanks for asking!

Click Here to Get Started >

Support Noozhawk Today

You are an important ally in our mission to deliver clear, objective, high-quality professional news reporting for Santa Barbara, Goleta and the rest of Santa Barbara County. Join the Hawks Club today to help keep Noozhawk soaring.

We offer four membership levels: $5 a month, $10 a month, $25 a month or $1 a week. Payments can be made through PayPal below, or click here for information on recurring credit-card payments.

Thank you for your vital support.


Maestro, Mastercard, Visa, American Express, Discover, Debit

Reader Comments

Noozhawk is no longer accepting reader comments on our articles. Click here for the announcement. Readers are instead invited to submit letters to the editor by emailing them to [email protected]. Please provide your full name and community, as well as contact information for verification purposes only.

Daily Noozhawk

Subscribe to Noozhawk's A.M. Report, our free e-Bulletin sent out every day at 4:15 a.m. with Noozhawk's top stories, hand-picked by the editors.

Sign Up Now >