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'''BITS''' is the division of technology policy from the Financial Services Roundtable. It represents 100 of the largest financial services companies that provide insurance, investment products or banking services.<ref>[http://www.bits.org/]</ref>
Created in 1996 as the entity created within the Financial Services Roundtable that will help the members better understand and collaborate for the newest technologies.
The founder of BITS was Frank Wobst, CEO of Huntington Bancshares.
BITS’ first CEO was Catherine Allen. Today, it is led by Paul Smocer.<ref>[http://www.bits.org/]</ref>
==BITS and [[ICANN]]==
BITS addressed an official letter to [[ICANN]] in order to announce that the implementation of the regulations will be mandatory.
Within the [[ICANN]]’s Applicant Guidebook does not state that it is mandatory for applicants to apply these regulations, but that they should respect the general security expected from gTLD.
The regulations specified by BITS should be implemented until December 20. It is up to [[ICANN]] board to find a way for implementing them. <ref>[http://domainincite.com/high-security-bank-spec-published/]</ref>