Over 100 international regulators, lawyers, senior financial services executives, data scientists, and FinTech/RegTech vendors attended the Bank of England/FCA RegTech Technology Roundtable at the Central Bank of Ireland in Dublin on Thursday April 5, 2018.
Professor Tom Butler had the honour of being invited to Chair the event by the Bank of England and the Financial Conduct Authority. The Dublin event is one of 6 RegTech RoundTables, and the only held in Ireland. The GRCTC @ UCC was privileged that the Central Bank of Ireland agreed to host the event in Dublin and to welcome regulatory colleagues from the UK and Europe.
Colm Kincaid, Director of Securities and Markets Supervision, CBI, delivered the Welcome Address (see below). Keynotes were delivered by Beju Shah, Bank of England, and Francis Gross, European Central Bank. Three panels of international experts, including senior executives from State Street, Fidelity, Santander, Credit Suisse and Linklaters, and regulators from Ireland and the UK, debated the problems, solutions, and future of straight through processing of regulations in the financial industry and the implications for FinTech.
UCC’s SmaRT (www.smart4reg.com) played a major role in the BoE/FCA’s RegTech Sprint recently and is viewed internationally as an innovative, potentially disruptive technology. It has, through the RegTech Sprint, shaped and informed the UK’s FinTech Strategy (see the comments by UK Chancellor Philip Hammond below). It is currently being evaluated by the FCA in order to make its Regulatory Handbook Machine Readable.