TechSprint could 'fundamentally change' approach to regulation - FCA

Together with the Bank of England, the Financial Conduct Authority (FCA) is exploring how technology can be used to link regulation, compliance procedures and firms' policies and standards with firms' transactional applications and databases. The financial watchdog said success would mean firms would be able to "map their regulatory requirements directly to the data they hold, creating the potential for automated, straight-through-processing of regulatory returns. "This would benefit both firms and regulators," it continued. "For example, the accuracy of data submissions could be impr...