National Centre for Cloud Computing & Commerce 5th Symposium on Capital Markets and Fintech: Open Banking (PSD2) and Blockchain Dublin City University April 2018

Peter G Cowap GRCTC Director Introducing… The ‘Regulatory Problems’… Scale Over 50,000 regulations published across the G20 since 2009 alone Average of 45 new documents every week MiFID 2 has generated 30,000 pages of regulatory text Dodd Frank 22,000 pages FCA Handbook 7 ½ feet high Staggering levels of complexity Costs $321+ billion in fines incurred in the period 2007–2016 $100 billion market? That was spent in 2016 on regulatory compliance by all financial services institutions Retail Banks spent over $200 billion 2008-2016 15 percent to 20 % percent of “run the bank cost,”, and 40 % percent of “change the bank costs” What about regulatory capital and risk capital and opportunity costs for all entities?

Business as Usual

RegTech can solve these problems! Standards-based SemTech-enabled RegTech provides the mechanisms to help address these problems!

What does RegTech do? Makes the business of complying with reporting requirements simpler Drives efficiencies by closing the gap between the intention of regulatory requirements and the subsequent interpretation and implementation within firms Semantic technologies, Artificial Intelligence and Machine Learning Simplifies and assists firms in: Governing, managing and exploiting their data Supporting better decision-making Suspicious activity detection Data analytics technology, real-time compliance monitoring and trade surveillance systems Permits regulation and compliance processes to be delivered differently and more efficiently Distributed ledger technologies, automated compliance systems, and biometrics for identity verification purposes Enables machine-readable regulation

Technologies and Standards for RegTech RegTech Needs Standards

Unpacking Regulations

Bank of England FCA RegTech Sprint

RegTech Council PoC

Fund Risk and Regulatory Reporting

Any questions? 1.