What are the regulatory technologies that will shape the future?

What are the regulatory technologies that will shape the future?

Over the course of the last decade, RegTech technology has gone from a complete unknown to a key part of a company’s regulatory toolkit.

Regulating Technologies

Roger Brownsword (King’s College London) argues that the emergence of a raft of rapidly developing technologies (ICTs, biotechnologies, nanotechnologies and neurotechnologies), together with the prospect of significant convergence between some or all of these technologies, should be of major concern to the legal community.

One set of questions focuses on the regulatory environment in which these technologies first emerge before developing and moving on:

1. What contribution can lawyers make to ensuring that the regulatory environment is fit for purpose?

2. How well does law perform in controlling for the risks presented by these technologies?

3. How well does it perform in supporting the research, development, and distribution of these technologies?

A second set of questions relates to the use by regulators of various kinds of technological fix, including fixing opportunities presented by developments in these emerging technologies. In addition to checking that technological fixes are legitimate and effective, what should the legal community make of the possibility that technology might displace law as an instrument of social control?

In short, lawyers should be concerned to contribute to debates about getting the regulatory environment right for emerging technologies, but they should also be concerned about the implications of technology and design replacing law as a channelling mechanism.

Regulatory Science to 2025 – Shaping the future

Watch our video on the ‘Regulatory Science to 2025’ strategy featuring Anthony Humphreys, head of EMA’s Scientific Committees Regulatory Science Strategy division. Send your comments on the strategy via the online questionnaire. #RegScience2025 https://ec.europa.eu/eusurvey/runner/EMARS2025PublicConsultation2019

20 Emerging Technologies That Will Change Our World

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REGTECH | What is it? | Regulatory Technology – Future Tech!

REGTECH | What is it? | Regulatory Technology – Future Tech!

Please see the New and Updated Regtech Video here: https://youtu.be/B1TWqSeYcTc

Regtech is the management of regulatory processes within the financial industry through technology. The main functions of Regtech include regulatory monitoring, reporting, and compliance.

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