Disclosures and market discipline: The promise of regtech

Murat Abur and Maximilian Dyck

Contents

Foreword

Preface

Preface

Introduction: Suptech/regtech defined: Payments, sandboxes and beyond

1.

The uncertain prudential treatment of cryptoassets

2.

US regulatory certainty versus uncertainty for crypto and blockchain

3.

Bermuda: Suptech and regtech supporting the risk-based approach

4.

Suptech: A new era of supervisory philosophy

5.

Cloud computing in the financial sector: A global perspective

6.

DeFi protocol risks: The paradox of cryptofinance

7.

IT transformation in the Prudential Authority of South Africa: A case study

8.

Making the vision a reality: Perspectives from the Monetary Authority of Singapore

9.

Lessons from Hong Kong through the lens of the HKMA

10.

Technological change: Is it different this time?

11.

The ECB’s suptech innovation house: Paving the way for digital transformation of banking supervision

12.

China’s financing opening up and regulatory convergence with the world

13.

Disclosures and market discipline: The promise of regtech

14.

Regtech and new derivatives developments

15.

Fintech and regtech: Leading the evolution and regulation of alternative investments

16.

The role of artificial intelligence and big data in investment management

17.

The promise and challenges of machine learning in finance

18.

Data privacy and alternative data

19.

Digital ID and financial inclusion

20.

Strategic technology: Regulation and innovation of CBDCs

21.

Regulatory sandboxes: Innovation and financial inclusion

22.

Technology and sandbox development innovation in a transitional market: A case study

23.

Developing the regulatory ecosystem: The evolution of stablecoin

24.

Central bank digital currency, regtech and suptech

25.

Digital dollar: Cryptocurrency for everyday commerce

26.

CFTC regtech implications for virtual currency trading

27.

Fintech, regtech, suptech and central bank decision making

Since the 1990s, the world has experienced significant leaps in technological development. Mobile phones have gone from being large devices to minicomputers, while the world has inched closer to self-driving cars. Advances in technology have taken humanity to new levels in all facets of society. Health technology (healthtech) has revolutionised medical treatment, while financial technology (fintech) has widened access to finance and changed the consumer experience of financial services. The regulatory technology (regtech) sector, which develops technological solutions to resolve regulatory and compliance challenges in the financial services industry, has achieved similar progress. These solutions are designed to make the process of regulatory compliance more efficient and less time-consuming by utilising the latest technological advancements. This chapter will therefore discuss the impact of regtech in the context of regulatory reporting and regulatory disclosures.

This chapter sets out to determine how stakeholders in the financial services industry can develop a digital infrastructure to capitalise on the promise of regtech and improve disclosures to foster market discipline

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