Regulatory Alerts2021-06-17
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Seventh and Final Issue of Regtech Watch
The Hong Kong Monetary Authority issued the seventh and final Regtech Watch to outline its three-year roadmap for integrating supervisory technology into its processes. This initiative aims to enhance the effectiveness and forward-looking capability of the regulator's supervision through greater technological adoption. The publication series will be succeeded by a new Regtech Adoption Practice Guide series, with the inaugural issue focusing on cloud-based Regtech solutions to assist authorized institutions with implementation.
Our Ref: B1/15C 17 June 2021 The Chief Executive All Authorized Institutions Dear Sir/Madam, Seventh and Final Issue of Regtech Watch I enclose the seventh and final issue of the Regtech Watch for your reference. This issue outlines the HKMA’s three-year roadmap to integrate supervisory technology (Suptech) into its processes. Through greater use of Suptech, the HKMA aims to enhance the effectiveness and forward-looking capability of its supervision. The Regtech Watch series will be succeeded by a new Regtech Adoption Practice Guide series, which is aimed at providing AIs with detailed practical guidance on how to overcome implementation issues in Regtech adoption. The inaugural issue focuses on “Cloud-based Regtech solutions”. Yours faithfully, Raymond Chan Executive Director (Banking Supervision) Encl
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