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
Related Articles
EBA Proposes Guidelines for Establishing Intermediate Parent Entities
EBA issued a consultation paper on the guidelines on monitoring of the threshold and other procedural aspects of the establishment of intermediate EU parent undertakings, or IPUs, as laid down in the Capital Requirements Directive.
EC Adopts Financial Reporting Changes Arising from Benchmark Reforms
EC published Regulation 2021/25 that addresses amendments related to the financial reporting consequences of replacement of the existing interest rate benchmarks with alternative reference rates.
BIS Bulletin Examines Key Elements of Policy Response to Cyber Risk
BIS published a bulletin, or a note, that examines the cyber threat landscape in the context of the pandemic and discusses policies to reduce risks to financial stability.
HMT Updates List of Post-Brexit Equivalence Decisions in UK
HM Treasury, also known as HMT, has updated the table containing the list of the equivalence decisions that came into effect in UK at the end of the transition period of its withdrawal from EU.
EBA Issues Erratum for Technical Package on Reporting Framework 3.0
EBA published an erratum for technical package on phase 1 of the reporting framework 3.0.
APRA Publishes FAQ on Measurement of Credit Risk Weighted Assets
APRA updated a frequently asked question (FAQ), for authorized deposit-taking institutions, on the measurement of credit risk weighted assets.
EBA Publishes Risk Dashboard for Third Quarter of 2020
EBA published the quarterly risk dashboard, along with the results of the Risk Assessment Questionnaire survey among 60 banks and 15 market analysts.
ECB Analysis Shows Privacy as Biggest Concern in Use of Digital Euro
ECB concluded the public consultation on the introduction of a digital euro in EU.
ECB Analysis Shows Privacy as Biggest Concern in Use of Digital Euro
ECB concluded the public consultation on the introduction of a digital euro in EU.
ECB Finalizes Guide on Supervisory Approach to Bank Consolidation
ECB published a guide that sets out the supervisory approach to consolidation in the banking sector.