The UK Financial Conduct Authority (FCA) has called for comment on the use of technology to improve regulation efficiency and help businesses to meet regulatory reporting requirements.
The document Call for Input: Using technology to achieve smarter regulatory reporting outlined the development of a concept where regulatory reporting requirements are machine-readable and executable, enabling businesses to map requirements directly to their data. The FCA expects this automation could benefit both businesses and regulators.
The document also seeks feedback on how the FCA can make further improvements and requests comment by 20 June 2018.
The consultation can be found here.