RegTech Innovation and Cooperation – Australia and China Compared

18 Pages Posted: 15 Dec 2020

See all articles by Andrew Godwin

Andrew Godwin

Melbourne Law School

Stacey Steele

University of Melbourne - Asian Law Centre

Dong Yang

Renmin University of China - Law School

meihui zhang

Nankai University

Date Written: December 15, 2020

Abstract

Regulators in Australia and China are increasingly embracing RegTech. ‘RegTech’ is a contraction of the terms ‘regulatory’ and ‘technology’. The term describes the use of technology to help companies comply with regulation and help regulators perform their regulatory and supervisory functions. This article identifies various ways that regulators in Australia and China are facilitating RegTech initiatives and categorises and compares those initiatives. The analysis suggests a significant degree of overlap between the two countries in relation to initiatives to facilitate reporting requirements and to improve supervision and supervisory processes. There is a greater focus in China on initiatives to support and strengthen the use of data than in Australia at this stage. However, Australia’s regulators are more active in facilitating initiatives to consult and engage with other stakeholders, including other regulators, government and industry.

Suggested Citation

Godwin, Andrew and Steele, Stacey and Yang, Dong and zhang, meihui, RegTech Innovation and Cooperation – Australia and China Compared (December 15, 2020). Australian Journal of Asian Law, 2020, Vol 21 No 1, Article 03: 39-55, Available at SSRN: https://ssrn.com/abstract=3748936

Andrew Godwin (Contact Author)

Melbourne Law School ( email )

185 Pelham Street
Carlton, Victoria 3053
Australia

Stacey Steele

University of Melbourne - Asian Law Centre ( email )

Melbourne
Australia

Dong Yang

Renmin University of China - Law School

59 Zhongguancun Avenue
Haidian District
Beijing, 100872
China

Meihui Zhang

Nankai University ( email )

38 Tongyan Road, Jinnan District
School of Finance
Tianjin, Tianjin 300350
China

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