UK regulators progress blockchain for regulatory reporting

UK regulators progress blockchain for regulatory reporting

LondonSeptember 23, 2021 — In a speech, the Financial Conduct Authority (FCA) CEO Nikhil Rathi gives an update on their progress on data and digital ambitions, and the Digital Regulatory Reporting (DRR) initiative. Ledger Insights reports that the FCA blockchain regulatory reporting initiative is making progress.

During its initial phases, the DRR initiative investigated the use of ISDA Common Domain Model (CDM) and domain-specific languages such as the Rosetta DSL developed by REGnosys.

Beyond the DRR initiative, the article highlights the increasing use of blockchain in capital markets and the expected greater use of CDM by digital ledger technology firms.The current Phase 3 is now focusing on “transforming data collection from the UK financial sector”.

Ledger Insights article here.

Draft speech here.