Can regulators learn to innovate too? Everyone knows innovation and regulation don't mix. Regulators can't keep up with mold-breaking exponential change, while innovators are hobbled by outdated rules, especially in high-regulation zones like finance. Both sides need totally new models. Well, for finance, here they are -- new ways to use technology to solve the regulatory problem itself. We'll showcase emerging solutions from RegTech to sandboxes to opt-in regulatory alternatives for companies that can prove better outcomes. Future regulation can -- and must -- be simpler, nimbler, cheaper, and more effective -- for policymakers and innovators alike.
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Additional Supporting Materials
- How can regulation be modernized to use technology and keep up with fast, mold-breaking change?
- How can innovators use RegTech to turn compliance from a costly burden to a competitive edge?
- What models can financial regulators and innovators look to in other countries and other industries, for better ideas on regulating finance?
Jo Ann Barefoot, Sr Fellow & CEO, Jo Ann Barefoot Group/Harvard University