Skip to Main Content
The REGTECH Book
book

The REGTECH Book

by Janos Barberis, Douglas W. Arner, Ross P. Buckley
August 2019
Intermediate to advanced content levelIntermediate to advanced
392 pages
14h 11m
English
Wiley
Content preview from The REGTECH Book

Making Regulation Machine Readable

By Ralf Huber

Co-Founder, APIAX

For decades, lawyers such as myself have been mastering the art of interpreting regulation for financial services, but in a rapidly digitizing world, regulatory interpretation must also become binary. Moreover, a new wave of new RegTech solutions is just around the corner.

Dealing with regulations has sometimes felt like being caught in the treadmill: regulatory implementation project after regulatory implementation project, numerous unclarified case-by-case requests in between, more and more unhappy business stakeholders and clients – and no comprehensive solution in sight. For almost a decade, the industry has been trapped in a regulatory crisis.

While the problem statements around managing regulation remain complex, I am convinced that the following three courses of action would massively lower the pain of the financial industry:

  1. Financial institutions should give up today’s individual approach to regulations and start an industry-wide collaboration.
  2. The mindsets of lawyers working for both regulators and the industry itself must shift towards a more machine-readable and standardized interpretation of regulations.
  3. Instead of further building up legal and compliance teams to manage regulations by hand, the financial services industry should invest in more efficient processes – such as having a ‘digital compliance officer’.

Invest in Industry Standards, Instead of Individual Approaches

When it comes to ...

Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
and much more.
Start your free trial

You might also like

The PAYTECH Book

The PAYTECH Book

Susanne Chishti, Tony Craddock, Robert Courtneidge, Markos Zachariadis
The INSURTECH Book

The INSURTECH Book

Sabine L.B VanderLinden, Shân M. Millie, Nicole Anderson, Susanne Chishti
The WEALTHTECH Book

The WEALTHTECH Book

Susanne Chishti, Thomas Puschmann

Publisher Resources

ISBN: 9781119362142Purchase book