Derville Rowland, Director General – Financial Conduct Central Bank of Ireland – speech at UCC on April 20th 2018.

‘Innovation & Technology in Financial Services: a regulatory perspective’

In announcing the launch of an Innovation Hub, remarked:

‘We realise that increased use of Regulatory Technology by both regulators and firms will also be central to these efforts. To that point, we hosted a RegTech Roundtable earlier this month with UCC¹s Governance Risk and Compliance Technology Centre, the UK’s Financial Conduct Authority and the Bank of England. The Roundtable focused on Model Driven Machine Readable and Executable Regulatory Reporting. Or, more simply, how to design a rulebook to be read by a computer. Development of RegTech, here and in other areas, has the potential to give compliance officers the time to focus on other important issues like conduct and behaviour. We will continue to engage with other authorities like the FCA, as well as organisations such as the RegTech Council, as we continue on this path.’

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The GRCTC wishes to acknowledge and thank the Director-General and colleagues at the Central Bank for their ongoing engagement and support of the GRCTC’s R&D.