Towards Secure and Intelligent Regulatory Technology (Regtech):: A Research Agenda

Daniel Broby; Angela Daly; David  Legg

doi:10.26116/techreg.2022.009

Authors

Daniel Broby Department of Accounting, Finance and Economics, Ulster Business School, Belfast, United Kingdom https://orcid.org/0000-0001-5482-0766
Angela Daly Leverhulme Research Centre for Forensic Science and Law School, University of Dundee, United Kingdom https://orcid.org/0000-0002-7529-4213
David Legg Law School, University of Strathclyde, United Kingdom

DOI:

https://doi.org/10.26116/techreg.2022.009

Keywords:

Regtech, Fintech, Compliance, Innovation, Oversight, Automation, Big Data, Research Agenda, Machine Learning, Cyber security

Abstract

We present a research agenda for secure and intelligent regulatory technology (’regtech’). This encompasses an overview of the conceptual, theoretical, and practical challenges that arise when using digital technologies to comply with regulatory regimes. Intelligent regtech ‘solutions’ are often tailor-made to achieve better oversight and compliance outcomes. Such tools can make regulation and compliance easier and more efficient. Their use poses security challenges in respect of data, cybersecurity, and the consumer. Regtech also raises competition and antitrust issues, as well as commercial and operational ones. We explore these by a targeted review of the literature. In doing this, we deliver new insights and highlight considerations for scholars. We articulate the concepts requiring further investigation. Our contribution is in defining regtech and establishing an interdisciplinary roadmap for further scholarly study.