Speeches

REMARKS
German American Roundtable
Mark Schlei, Deputy Administrator
Division of Banking
Department of Financial Institutions
October 5, 1998

My name is Mark Schlei, Deputy Administrator for the Division of Banking, Department of Financial Institutions. One of my projects is identifying the issues related to implementing electronic signatures for governmental and private use. To accomplish this, the department has brought together 13 different state agencies to study these issues and make recommendations for future governmental action as needed.

Here are some of the issues we are exploring:

• the advantages and disadvantages of different technologies
• technical barriers, and hardware and software requirements
• educating the public about electronic signatures
• identifying uses, particularly for businesses
• the extent of governmental regulation versus private servicing of electronic signature needs
• legal aspects such as how the formation of contracts is effected, how law enforcement might use electronic signatures, and how privacy might be protected
• how the other 49 states are implementing and using electronic signatures
• what uniform legislation there is nationally effecting electronic signatures

Included in our review of electronic signatures is what is happening internationally. Wisconsin is a state with a fair amount of international commerce, and our governor, as should be apparent by Secretary Dean’s presence at your meeting, is interested in continuing and facilitating this activity.

It is, for example, with interest that we review the Model Law on Electronic Commerce developed by the United Nations Commission on International Trade Law. We are also reviewing Directorate-General XIII of the European Commission on the regulatory and technological requirements of electronic commerce. The European Community is developing a Study on the Legal Aspects of Digital Signatures, and I know that Germany has enacted digital signature legislation. I also know that the Commission of the European Communities sponsored a general study regarding electronic data interchange.

It is paramount that any system that is developed has the integrity and confidence of not only the business community in this state and country, but also abroad. Eventual applications could include international bank transfers, contracting, intellectual property enforcement, and even Interpol law enforcement endeavors.

The department will continue to review developments from abroad in this area, particularly from Europe. The department also looks forward to reviewing these, and assisting Wisconsin in developing electronic signature legislation and rules in a manner that is competitive and compatible. Our department’s report will be issued by November 1, 1998. We hope you will review it and e-mail us any thoughts you may have on it.