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The road to making regulation more efficient: A case study in the application of best practices and data standards in regulatory reporting

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  • Shah, Beju

Abstract

The aim of this paper is to examine how the shape of regulatory data collection may change in the future and what might need to be done by regulators to set solid foundations in the short to medium term that can be used for innovation in the future. The paper identifies 23 best practices and key standards that can be deployed by regulators to help meet those best practices. The paper details where and how the Bank of England aligns to these best practices and what data standards the organisation has deployed. This paper could serve as a guide for regulators on the application of best practices and data standards to how data can be collected more efficiently over time and also for regulated financial institutions on the expectations they could have on their regulators.

Suggested Citation

  • Shah, Beju, 2019. "The road to making regulation more efficient: A case study in the application of best practices and data standards in regulatory reporting," Journal of Securities Operations & Custody, Henry Stewart Publications, vol. 11(2), pages 128-144, March.
    • Handle: RePEc:aza:jsoc00:y:2019:v:11:i:2:p:128-144
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    More about this item

    Keywords

    RegTech; Legal Entity Identifier; LEI; XBRL; ISO 20022; regulatory reporting; data collection; SupTech; digital reporting;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • K22 - Law and Economics - - Regulation and Business Law - - - Business and Securities Law

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