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Is real time regulatory reporting a goal too farfetched? Aside of the theoretical premise that the earlier you know, the earlier you can prevent, is there a solid practical base to the argument. Would the function of the regulator be better served not by such focus on transaction level detail but by principles based governance?
Below, I discuss the advantages / disadvantages of both the approaches.
Let me spend some time first on Transaction Based regulation running on a real or close to real time basis.
Requirements
Advantages
Disadvantages
Now for the principles based regulation.
While both forms of regulation have their advantages and disadvantages, principles based governance allows regulators to pursue even those cases where market participants have followed the law in letter but not in spirit.
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
Teo Blidarus CEO and Co-Founder at FintechOS
23 April
Jason Delabays Ecosystem Lead at Zama
22 April
Igor Kostyuchenok SVP of Engineering at Mbanq
Steve Haley Director of Market Development and Partnerships at Mojaloop Foundation
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