Market & RegTech
Market and RegTech (regulatory technology) data consist of information collected and used in the financial regulatory system, gathered through regulatory reporting. The complexity of the U.S. financial regulatory reporting system, reliance on document-based reports, and provision of information in static documents limit the value of this data for regulators and industry. Proposals to modernize the financial regulatory reporting system to require standardized, machine-readable data will foster an environment for technology to improve the efficiency of the financial sector and regulatory reporting. Regulatory technology (RegTech) applications can republish, analyze, and automate reporting processes, providing deeper insight, cut costs, as well as fraud prevention. The cost-saving power of open data for financial reporting has already been proven internationally. 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.
Press Releases and Statements