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Regulation/Reform

ASIC announces regtech showcase event

23 Aug 2017
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ASIC has announced that it will hold a showcase event on regulatory technology (regtech) on 18 September 2017 in Sydney. With regtech at the top of the minds of both regulators and industry, ASIC believes that this event will stimulate engagement, explore the opportunities and barriers to regtech deployment and identify potential areas for collaboration.

ASIC’s Regtech Showcase will see two key regtech topics examined in depth through panel discussions, commentary from a range of experts and floor discussion. Regtech developers and technologists will also have the opportunity to share existing or potential solutions in two industry showcase sessions:

Session one: The future of regulatory reporting

  • The use of new technologies to provide for more efficient and effective provision and/or access to regulatory information.

Session two: Understanding and meeting regulatory obligations

  • How software and algorithms can help firms understand and meet their regulatory obligations more efficiently and effectively.

These sessions will have a focus on the regulatory framework administered by ASIC, but will also have reference to frameworks more generally.

ASIC Commissioner John Price said. ‘ASIC does not  regulate regtech directly but we do want to promote it to improve compliance outcomes, and think we have an important role to play as a facilitator of regtech engagement within the sector’.

Regulatory technology helps organisations build a culture of compliance, identify learning opportunities and save time and money relating to regulatory matters, whilst improving compliance and outcomes for consumers. It also has the potential to support regulators in the way they undertake regulatory work and engage with industry.

Registration of interest for the ASIC Regtech Showcase will open in the coming weeks on the Innovation Hub website and the full agenda and program of speakers will be made available at this time. ASIC intends to host a Regtech event in Melbourne later this year.

This announcement is part of ASIC’s response to feedback received from the regtech sector and wider industry on Report 523 ASIC’s Innovation Hub and our approach to regulatory technology (REP 523)  released in May 2017. A feedback statement will be issued in September.

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