Regulatory Technology – Eight Policy Recommendations

Cette conférence fait partie du Cycle de conférences 2022-2023 :

REGTECH – IA et conformité

Conference title:

« Regulatory Technology – Eight Policy Recommendations »

Conference Description:

Regulators, regulated entities and technology providers alike are keenly investigating possible applications of RegTech, and all stand to benefit from its development. RegTech has the potential to make regulation easier, nimbler, and more precise. The success of its employment will depend, however, on a coherent policy framework that addresses the big picture issues that arise. Regulators must realise that precision is not an end in itself, and that a high degree of granularity may or may not be desirable. They must address the risk of short-term thinking on the part of regulated entities. They should know the limits of data-driven analyses and avoid over-reliance on their outcomes. Safeguards should be put in place to mitigate against systemic risk arising from standardisation. Third-party technology providers will act as ‘gatekeepers’ in the RegTech market, and an inquiry into the appropriate policy response to this is needed. Regulatory capture should be avoided, and decision-making allocated with those who have access to independent technological expertise. Regulators should be careful to not ‘outsource’ policy choices to the software programming level to an extent that would call democratic legitimacy into question. The use of regulatory technology does not itself justify a change in the approach to financial regulation. Regulators should ensure that they are firmly planted in the driver’s seat.

Speaker’s Biography

Eva Micheler studied law at the University of Vienna and Oxford University before joining the LSE Law School in 2001. She is a Professor of Law at the London School of Economics. Professor Micheler is also on the board of the Systemic Risk Centre at LSE. She was a TMR fellow at Oxford University Law School and teaches regularly at the University of Vienna and the Bucerius Law School in Hamburg.

Cycle Description:

In its most recent report Cost of Compliance 2022: Competing priorities, Thomson Reuters revealed that there was an average of 246 regulatory alerts daily across 190 countries in 2021.[1] The regulatory burden is today heavier than ever, but compliance officers are also more efficient. As regulators are constantly adapting to new trends and challenges and as banks and companies are trying to navigate this ever-changing regulatory landscape, stakeholders have witnessed a surge in the number of RegTech initiatives and a sharp turn towards technology for regulatory compliance. In a continuation of our Industry Webinars conference cycles, following LegalTech and FinTech, we are presenting this program on RegTech where many of the previously explored concepts collide.

In this cycle, our panelists and industry players will shed light on the latest developments in RegTech, on the disruption and promises brought by AI, on the risks associated with an increased role of technology for regulatory compliance and on the future of said regulatory compliance in the wake of COVID and of the war in Ukraine. The European Banking Authority Analysis of Regtech in the EU Financial Sector published in June 2021 has summarized one of the main challenges in the field as the need for “…a balanced approach to acknowledge RegTech benefits and create an innovate‐supportive environment, but at the same time to closely monitor and be prepared to manage any associated risks.”[2] Now let’s explore how to get there.


[1] Susannah Hammond and Mike Cowan, Cost of Compliance 2022: Competing priorities, Thomson Reuters, 2022.

[2] European Banking Authority, EBA Analysis of Regtech in the EU Financial Sector, EBA/REP/2021/17, June 2021, online: https://www.eba.europa.eu/sites/default/documents/files/document_library/Publications/Reports/2021/1015484/EBA%20analysis%20of%20RegTech%20in%20the%20EU%20financial%20sector.pdf

Ce contenu a été mis à jour le 17 avril 2023 à 9 h 26 min.