The events are aimed at regtech startups, scaleups and internal development teams of financial services companies to demonstrate their solutions.
The first event in Sydney, ‘Financial Promotion Monitoring: Demonstration and Symposium’, will allow providers to demonstrate how they can monitor, identify and analyze financial advertising to maintain compliance. It will take place on August 2.
Visitors will be able to learn more about improving the detection of problematic financial advice in datasets at the second event, Financial Advice Files: Demo and Symposium, in Sydney on August 22.
Finally, the third event focuses on the capabilities, benefits and costs of applying speech analytics and voice-to-text (VA&VT) research and analysis to regulatory activities. The VA&VT symposium will take place later in the year.
ASIC is also undertaking a regtech trial to explore how it can communicate its financial services application and credit licensing requirements via a technology-assisted licensing guidance (TAG) tool. Its findings will be shared at a fourth symposium later this year.
“There is a real need for new regulatory approaches, which is why ASIC strongly supports the development and adoption of regtech solutions in the financial services sector to deliver better outcomes for consumers,” the Commissioner said. of ASIC, John Price.
“Regtech is something we are keenly interested in, both as a consumer of products and as a facilitator of engagement more generally to ensure the use of innovation in this area.”
ASIC is also calling for expressions of interest from potential demonstrators offering regtech solutions for its “Financial Promotion Monitoring” and “Financial Advice Files” showcases. The regulator is looking for ten companies to present for both events.
Details of the VA&VT and TAG tool symposia will be released closer to this date. Both are based on trials the regulator is conducting with regtech companies.
