The New York edition of A-Team Group’s highly successful RegTech Summit is less than a week away and the industry is gearing up to converge on New York for an event filled with senior speakers, expert practitioners and cutting edge innovators in the RegTech space. Ahead of the big day, we stole a few moments with headliner Peter Moss, CEO of the SmartStream Reference Data Utility (RDU), to get a preview of his keynote speech on the challenges facing regtech as the industry evolves.
With the provocative title: ‘Garbage in, garbage out – why Reg “Tech” is only half the answer’, Moss is not shy of asking the hard questions. So how does he think the industry is likely to evolve? He says: The RegTech evolution has been great, it has been a breath of fresh air to the industry. But – and this is a big but – as MiFID II has proven, accurate data is the foundation upon which everything is built.”
Moss’s presentation will explore just why it is so important to get the data right, and why an appropriate focus on that data is crucial in order to ensure regulatory processes function efficiently. He will also look at MiFID II as an example of how regulatory approaches are likely to evolve around the world.
“There is a new focus on getting data from the market and making sure that there are clear standards for collecting that data,” he told DMR. “That involves working with all market participants to ensure they understand what is needed and have the right interpretation of attributes. But it will also mean some big changes, such as requiring players to send in data rather than specific regulatory reports. MiFID II has actually taken a big step in that direction already, but we expect it to become a more general trend globally.”
So how can you ensure that you are prepared for this shift, and have the required focus on data standards?
To find out, register for A-Team Group’s RegTech Summit in New York City on November 15, 2018.