RegTech 2023 Data Summit

The Financial Data Transparency Act (FDTA) is a significant step towards the adoption of regulatory technology (RegTech) and the modernization of financial services. It is a groundbreaking law that brings substantial reform to data authorities for the financial sector, amending securities and banking laws to require data standards and making reported information electronically searchable. The FDTA will facilitate the development of regulatory technologies and artificial intelligence applications that are practical, useful, and can be adopted in the years to come. This will help address regulatory challenges in financial services, harmonize reporting requirements, reduce the private sector's regulatory burden, and enhance transparency and accountability. To explore how to implement the FDTA and maximize its benefits, the Data Foundation's RegTech23 Data Summit, presented by Donnelley Financial Solutions (DFIN), will bring together federal regulators, regulated entities, RegTech and data companies, and data transparency advocates. The summit will address crucial questions, such as effective strategies for implementation, stakeholder involvement in upcoming rulemaking on data standards, and ways to improve the health of our financial regulatory system. Industry and government experts will engage with participants and initiate a dialogue to ensure that the real benefits of FDTA for future RegTech innovations are achieved. Moreover, the FDTA's approach will serve as a model for applying data standards in government.