CSRC Issues Workplan on Use of Regtech to Supervise Securities Markets
CSRC issued a work plan for "Auditing and Enforcement of Science and Technology Construction." The regulator has proposed this work plan to effectively enhance technology-related law enforcement (known as regtech in general) in response to the internet, big data, cloud computing, artificial intelligence, and other modern scientific and technological developments.
The plan outlines six key regtech projects for improving the enforcement capabilities of CSRC. These projects involve data collection and integration, data modeling, forensic software engineering, quality control, case management, and investigation assistance. The data modeling project will use machine algorithms to provide clue discovery, case investigation models, case investigation breakthroughs, and other smart solutions. The plan looks at establishing a big data enforcement platform; using smart technology to help resolve cases; developing a standardized electronic tool to collect information on the links between entities, funds, and transactions; and establishing a smart control system for assessment of conduct and determination of penalties.
Related Link (in Chinese): Work Plan
Keywords: Asia Pacific, China, Securities, Work Plan, Regtech, Fintech, Regulatory Supervision, CSRC
Previous Article
EBA Single Rulebook Q&A: Second Update for May 2018Related Articles
EBA Publishes Phase 2 of Technical Package on Reporting Framework 2.10
EBA published phase 2 of the technical package on the reporting framework 2.10, providing the technical tools and specifications for implementation of EBA reporting requirements.
FASB Proposes to Delay Implementation of Insurance Contracts Standard
FASB issued a proposed Accounting Standards Update that would grant insurance companies, adversely affected by the COVID-19 pandemic, an additional year to implement the Accounting Standards Update No. 2018-12 on targeted improvements to accounting for long-duration insurance contracts, or LDTI (Topic 944).
APRA Updates Regulatory Approach to Loan Deferrals Amid COVID Crisis
APRA updated the regulatory approach for loans subject to repayment deferrals amid the COVID-19 crisis.
BCBS and FSB Set Out Recommendations for Benchmark Transition
BCBS and FSB published a report on supervisory issues associated with benchmark transition.
IAIS Sets Out Recommendations for Benchmark Transition for Insurers
IAIS published a report on supervisory issues associated with benchmark transition from an insurance perspective.
ESMA Updates Reporting Manual on European Single Electronic Format
ESMA updated the reporting manual on the European Single Electronic Format (ESEF).
EBA Calls on Resolution Authorities to Consider Impact of COVID Crisis
EBA published a statement on resolution planning in light of the COVID-19 pandemic.
BCBS Finalizes Revisions to Credit Valuation Adjustment Risk Framework
BCBS Finalizes Revisions to Credit Valuation Adjustment Risk Framework
ECB Guideline on Materiality Threshold for Credit Obligations Past Due
ECB published a guideline (2020/97), in the Official Journal of European Union, on the definition of materiality threshold for credit obligations past due for less significant institutions.
FED Temporarily Revises FR Y-14 With Respect to PPP and CARES Act
FED temporarily revised the capital assessments and stress testing reports (FR Y-14A/Q/M) to implement the changes in response to the COVID-19 pandemic.
