Non-Financial Risk Management: Emerging stronger after Covid-19

Non-Financial Risk Management: Emerging stronger after Covid-19

PREORDER NOW: Interest Rate Risk in the Banking Book 2nd edition

PREORDER NOW: Interest Rate Risk in the Banking Book 2nd edition

Regtech, Suptech and Beyond: Innovation in Financial Services

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Regtech, Suptech and Beyond is the first book of its type. It explores in great detail the emerging and best practices in regulatory oversight that leverage technological solutions. Folding in new research and analysis, it serves as both a reference book and a working manual, providing a frame of reference for regulatory developments and the important role of technology. Readers from central banks, regulators and firms pursuing technological solutions to regulatory and supervisory oversight will benefit from this handbook.

£145.00
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ISBN
9781782724391
 

Technology and innovation continue to have a dramatic influence on financial services and products as well as the markets in which these are offered. Similarly, technology and innovation in regulatory and supervisory oversight are rapidly evolving. Covid-19 and the global crisis surrounding the pandemic has accelerated this evolution further still, putting regtech and suptech centre stage for both regulators and those they regulate.

In the first compendium of its type, editors Bill Coen (former Secretary General of the Basel Committee on Banking Supervision) and D. R. Maurice (former Federal Reserve analyst) and have gathered together chapter authors who are deeply involved in the development of this essential financial-services oversight function. Authors spanning the public sector, including supervisory authorities and central banks, academia, and the private sector provide the reader with unique and dynamic views of both the current and future regtech and suptech ecosystem.

Divided into 5 parts the book explores in detail the emerging best practices in regulatory oversight and financial services which leverage technological solutions. Folding in new research and analysis, Regtech, Suptech and Beyond serves as both a reference and a working manual; providing a frame of reference for regulatory developments and the important role of technology. Readers from central banks, regulators and firms pursuing technological solutions to regulatory and supervisory oversight will benefit.

Part I - Prudential and financial stability issues

Part II - Response to global transformation – Innovation strategies and regulatory approaches

Part III - Opportunities for regtech

Part IV - Innovation and international standards

Part V - Digital currencies: CBDC, Stablecoin and beyond

The strengths and challenges of leading methodologies and techniques explored in this book will provide practical and actionable solutions. As a result, readers will gain a deeper understanding of the business implications of the use of technology in meeting their daily regulatory and non-regulatory activities.

The table of contents ranges from regulatory sandboxes, cloud strategies and central bank digital currencies to anti money laundering, AI, machine learning and “big data”. A “how to” in the execution of compliance, monitoring, privacy, and cybersecurity spanning the globe Regtech, Suptech and Beyond, should be on the desks of practitioners, regulators, consulting firms, academics, students and fintech innovators and entrepreneurs.

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Bill Coen and D. R. Maurice

Bill Coen, former secretary-general of the Basel Committee on Banking Supervision (2014–19), currently serves on various boards of directors and advisory boards, providing strategic and regulatory advice, including China Construction Bank, MUFG, Baton Systems, Suade Labs, Reference Point, IFRS Foundation Advisory Council, Toronto Leadership Centre and the Bretton Woods Committee.

He has previously chaired the Basel Committee’s Policy Development Group, which developed and recommended the Basel III post-crisis reforms for endorsement by the Basel Committee and its governing body, as well as chairing the committee’s Task Force on Corporate Governance and the Coherence and Calibration Task Force. Coen was also previously deputy secretary-general, responsible for the committee’s response to the global financial crisis, including co-ordinating the various Basel III policy initiatives.

He joined the Basel Committee’s Secretariat in 1999 from the board of governors of the US Federal Reserve System in Washington, DC, and before that was a bank examiner for the US Office of the Comptroller of the Currency. Coen began his career as a credit officer for a New York City-based bank. He received his MBA from Fordham University and BSc from Manhattan College.

 

D. R. Maurice is a former central banker and an IT risk management executive, whose career achievements include implementing digital transformation strategy and policy for central bank digital currency, regulatory sandbox platforms and other blockchain technologies emphasising financial inclusion. Active engagements over the past few years have focused on central bank digital transformation in emerging markets.

D. R. Maurice previously worked in risk and IT governance roles in New York, London and Africa. She has also held positions at BNP Paribas, Moody’s Investors Services, State Street Global Advisors, Morgan Stanley and TD Securities. D. R. Maurice’s regulatory experience includes working at the New York and San Francisco Federal Reserve banks, with resident and short-term assignments in central banks in Africa and eastern Europe. As the author of numerous professional articles and editor of several Risk Books titles, she is also actively engaged in capacity-building and training related to suptech/regtech issues.

Her academic credentials include a BA in history from Salem State College, an MPA in finance from Arizona State University, and an MSc from the London School of Economics, where she completed work for a doctorate in financial services regulation. Recent technology certificates have been awarded to her by the Massachusetts Institute of Technology: AI and Digital Transformation; and ISACA Certifications on Controls (COBIT) and Privacy (CDPSE). Board advisory work currently includes the Value Technology Foundation (blockchain) and a suptech start-up for central banks.

Foreword
Carolyn Rogers

Preface
Bill Coen & D. R. Maurice

Introduction: Suptech/Regtech defined: Payments, sandboxes and beyond
Bhavin Patel

Part 1. Prudential and financial stability issues

1

The uncertain prudential treatment of crypto-assets

Lee Reiners

2

Cloud Computing in the Financial Sector: A Global Perspective

Hal Scott and John Gulliver

3

DeFi protocol risks: The paradox of crypto-finance

Linda Jeng and Nic Carter

4

Bermuda: Suptech and regtech supporting the risk-based approach

Monika Adams

5

Money Laundering and Reg Tech – Perspectives from a Central Bank

Rūta Merkevičiūtė

6

Regulatory Certainty vs. Uncertainty for Crypto and Blockchain

Jason Brett and Whitney Kalmbach

 

Part 2. Response to Global Transformation - Innovation Strategies and Regulatory Approaches

7

IT transformation in the Prudential Authority of South Africa: A case study

Kuben Naidoo and Daniel Masiya

8

Making the vision a reality: Perspectives from the Monetary Authority of Singapore

Mok Pei Hong

9

Lessons from Hong Kong, through the lens of the Hong Kong Monetary Authority

Arthur Yuen

10

Technological Change - is it different this time?

Lyndon Nelson

11

The ECB’s suptech innovation house: Paving the way for digital transformation of banking supervision

Daniela Schackis, Lukasz Kubicki and Maia Köhler

12

China’s financing opening up and regulatory convergence with the world

Alicia Garcia Herrero and Gary Ng

Part 3. Opportunities for RegTech

13

The promise and challenges of machine learning in finance

Natalia Bailey

14

RegTech and new derivatives developments

Jamila D. Burnell and Charmaine Fearon

15

Fintech and regtech: Leading the evolution and regulation of alternative investments

Natasha Bansgopaul

16

Data privacy and alternative data

Ronan Crosson and Dallán Ryan

17

The role of artificial intelligence and big data in investment management

Kishore K. Yalamanchili and Saurav Banerjee

Part 4. Innovation and International Standards

18

Disclosures and market discipline: The promise of regtech

Maximilian Dyck and Murat Abur

19

Digital ID and financial inclusion

Rod Dubitsky and Sian Williams

20

Regulatory sandboxes: Innovation and financial inclusion

Carmelle Cadet

21

Technology and sandbox development innovation in a transitional market: A case study

Samira Kria Chaker

Part 5. Digital Currencies: CBDC, Stablecoin

22

Strategic technology: Regulation and innovation of CBDCs

Frederic de Vaulx

23

Central bank digital currency, regtech and suptech

John Ho

24

Developing the regulatory ecosystem: The evolution of Stablecoin

Min-Si Wang

25

CFTC regtech implications for virtual currency trading

Laura Harper Powell and Bruce Tupper

26

Digital dollar: Cryptocurrency for everyday commerce

Michael Van Bemmelen

27

Conclusion

Ashraf Khan and Majid Malaika