SEBI forms committee for financial and regulatory technology
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The market regulator has formed a high level committee to look at financial and regulatory technology, said G Mahalingam, whole time member, Securities and Exchange Board of India (Sebi) at Global Fintech Summit on Wednesday.
This committee is examining the aspects of technology and unstructured data analysis for surveillance functions and market development.
The committee would make recommendations on learning from technology that can be adopted not just for the markets but also internally for Sebi, said Mahalingam.
With increasing complexities in technology analysing structured data is not enough to act as an effective surveillance measure. The panel recommendation will help the market regulator in augmenting analytical capability with advanced tools such as pattern recognition, processing of structured and unstructured data.
In addition, enhance Sebi’s own analysis and surveillance of social media using artificial intelligence (AI) and big data analytics.
Highlighting the role of financial technology in capital markets, Mahalingam touched upon Sebi’s regulations for innovative and regulatory sandboxes.
The innovative sandboxes meant for entities not regulated by Sebi can be used by innovators including individuals to get access to historic market data. The rules were notified in May 2019.
Innovative Sandbox is aimed at bringing innovativeness in the markets and improve experience for customers, said Mahalingam.
While innovators will be allowed to test new innovative products by accessing historic trade data, Sebi is not compromising on data integrity, KYC and investor protection.
According to Mahalingam, the products coming out of sandboxes will increase investors access to capital markets, reduce costs and risk for investors. #casansaar (Source - LiveMint)
This committee is examining the aspects of technology and unstructured data analysis for surveillance functions and market development.
The committee would make recommendations on learning from technology that can be adopted not just for the markets but also internally for Sebi, said Mahalingam.
With increasing complexities in technology analysing structured data is not enough to act as an effective surveillance measure. The panel recommendation will help the market regulator in augmenting analytical capability with advanced tools such as pattern recognition, processing of structured and unstructured data.
In addition, enhance Sebi’s own analysis and surveillance of social media using artificial intelligence (AI) and big data analytics.
Highlighting the role of financial technology in capital markets, Mahalingam touched upon Sebi’s regulations for innovative and regulatory sandboxes.
The innovative sandboxes meant for entities not regulated by Sebi can be used by innovators including individuals to get access to historic market data. The rules were notified in May 2019.
Innovative Sandbox is aimed at bringing innovativeness in the markets and improve experience for customers, said Mahalingam.
While innovators will be allowed to test new innovative products by accessing historic trade data, Sebi is not compromising on data integrity, KYC and investor protection.
According to Mahalingam, the products coming out of sandboxes will increase investors access to capital markets, reduce costs and risk for investors. #casansaar (Source - LiveMint)
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