The Australian market regulator has selected five regtech firms for the Business Research and Innovation Initiative (BRII) Regulatory Technology (Regtech) Round, which will solve the challenges of corporate disclosure. The companies ASIC will work with include Bedrock AI Aus Pty Ltd, DigitalX Limited, Eastern Analytica Pty Ltd, Listcorp Pty Ltd and Pyxta Pty Ltd.
The latest BRII round is initiated by the Department of Industry, Science, Energy, and Resources. It aims to assesses the potential of regtech to solve challenges across government agencies and departments. ASIC will explore the potential of using technology to help identify and assess poor market disclosure by listed companies through its selected challenge.
ASIC Commissioner Cathie Armour, said:
ASIC deliberately designed a challenge around market disclosure that is a representative problem so that potential regtech solutions can also be applied to other problem use cases by agencies and industry.
Working towards an innovative solution has the potential to transform ASIC’s ability to harness technology to reduce regulatory burden, while enhancing market integrity.