Financial Services & RegTech
Incentivizing Improved Market Data and Regulatory Technologies
Market and RegTech (regulatory technology) data reflect information collected and used in the financial regulatory system. Data are gathered through regulatory reporting and involves the application of emerging technology, supported by the use of open data standards. Proposals to modernize the financial regulatory reporting system to require standardized, machine-readable data will foster an environment for emerging technologies and applications. This will improve efficiency within the financial sector and regulatory reporting. RegTech applications can republish, analyze, and automate reporting processes providing deeper insight, cut costs, and enhance fraud prevention. Government and industry must work together to standardize, share, and use high-quality regulatory data.
The Data Coalition advocates for policies to modernize the financial regulatory system’s reporting requirements, facilitating cooperation between regulators and regulated industries. Activities include:
Key LawFinancial Data Transparency Act
Press Releases and Statements