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FCA seeks input on using technology to achieve smarter regulatory reporting

Jaclyn Jaeger | February 20, 2018

The U.K. Financial Conduct Authority is seeking views on how technology can make it easier for firms to meet their regulatory reporting requirements and improve the quality of the information they provide.

“The FCA regularly explores how technology can make our regulations more efficient and reduce the regulatory burden on firms,” the FCA stated. “One of the ways we do this is through ‘TechSprints’ that bring together financial services providers, technology companies, and subject- matter experts to develop solutions to regulatory challenges.”

In November 2017, the FCA and the Bank of England, held a two-week TechSprint to examine how technology can make the current system of regulatory reporting more accurate, efficient and consistent. All regulated firms submit data to the FCA based on their financial activities. “The data received from these...

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