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Line 15: − + − + + + + + + + + − ==About BITS== − 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/ A short history about the creation of BITS]</ref> − ==BITS and [[ICANN]]== − [[ICANN]] leads an application process for obtaining more global top level domains such as .secure or .bank. − BITS as the entity of technology from the Financial Services, published a set of regulations for new top level domains such as .bank which cover up to 31 items related to law enforcement, security of data or registrar relations. − Although these regulations should be applied on a voluntary basis by applicants for a gTLD, BITS will enforce this as being mandatory for domains related to financial services. These domains are called fTLD. − 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/ More about the relation between BITS and ICANN]</ref>
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{{CompanyInfo|
{{CompanyInfo|
| logo =
| logo = Picture 1.png
| type = Non-Profit Corporation
| type = Non-Profit Corporation
| industry = [[RIR|Regional Internet Registry]]
| industry =
| founded = 1996
| founded = 1996
| founder(s) =
| founder(s) =
| revenue =
| revenue =
| businesses =
| businesses =
| website = [http://www.bits.org/]
| website = [http://www.bits.org/ BITS.org]
| keypeople = [[Paul Smocer]], President<br>
| keypeople = [[Paul Smocer]], President<br>
| twitter =
| twitter =
}}
}}
'''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/ BITS official website]</ref>
'''BITS''' is the Financial Services Rdountable's technology policy division. It represents 100 of the largest financial services companies that provide insurance, investment products or banking services.<ref>[http://www.bits.org/ BITS official website]</ref>
It was created in 1996 by the Financial Services Roundtable to better help its members understand and collaborate on new technologies.<ref>[http://www.bits.org/ A short history about the creation of BITS]</ref>
===BITS and [[ICANN]]===
BITS has sent letters to [[ICANN]] following the publication of many of the [[New gTLD Program]|new gTLD program]]'s, including the first, second, third and fourth version.<ref>[http://www.bits.org/publications/comment/BITSCommentICANNDAG121508.pdf BITS Comment, v1, BITS.org]</ref><ref>[http://forum.icann.org/lists/2gtld-guide/pdfBMtaHcRzDs.pdf BITS Comment, v2, BITS.org]</ref><ref>[http://www.bits.org/publications/comment/CommentICANNDAGv3112209.pdf BITS Comments, v3, BITS.org]</ref>[http://www.bits.org/publications/comment/CommentICANNDAGv4072110.pdf BITS Comments, v4, BITS.org]</ref> In late 2010, BITS threatened legal action against ICANN should it not defer the delegation of any financial [[TLD]].<ref>[http://domainincite.com/icann-told-to-ban-bank-or-get-sued/ ICANN Told To Ban Bank or Get Sued, DomainIncite.com]</ref> Since that time, BITS has announced that it is working with the [[ABA|American Bankers Association]] to apply for financial [[TLD]]s. It has chosen to work with [[Verisign]]'s registry services to provide technical back-end services to those extensions.<ref>[http://www.marketwire.com/press-release/american-bankers-association-bits-choose-verisign-as-registry-operator-potential-new-nasdaq-vrsn-1422322.htm Press Release, American Bankers Association BITS Choose Verisign as Registry Operator Potential New, MarketWire.com]</ref> Its gTLD application plans include a bid for [[.bank]], and it will likely apply for a number of other financial related TLDs.<ref>[http://domainincite.com/bits-may-apply-for-six-financial-gtlds/ BITS May Apply For Six Financial gTLDs, DomainIncite.com]</ref>
BITS has been vocal about what it deems as mandatory secuirty measure for any financially related gTLD. There are no specific measures stipulated in [[ICANN]'s [[Applicant Guidebook]]. ICANN's own [[Security Standards Working Group]] has made its own set of suggestions to ICANN on such requirements, and these have largely been endorses by BITS.<ref>[http://domainincite.com/high-security-bank-spec-published/ High Security Bank Spec Published, DomainIncite.com]</ref>