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

2. 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
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?

3. Business as Usual

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

5. 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

6. Technologies and Standards for RegTech
RegTech Needs Standards

7. Unpacking Regulations

8. Bank of England FCA RegTech Sprint

10. RegTech Council PoC

11. Fund Risk and Regulatory Reporting

12. Any questions? 1.