ASIC to work with regtechs on market disclosure challenges

The Australian Securities and Investments Commission (ASIC) will work with five regtech startups to hone technology that can recognise poor market disclosure by listed companies.

The startups – Bedrock AI Aus, DigitalX, Eastern Analytica, Listcorp and Pyxta – are recipients of up to $100,000 in government funding.

This initial funding is to be put towards a three-month feasibility study.

From this, “two of these regtechs may receive further grants of up to $1 million each to develop and test a proof of concept over a further 15 months,” ASIC said in a statement.

‘Working towards an innovative solution has the potential to transform ASIC’s ability to harness technology to reduce regulatory burden, while enhancing market integrity,’ ASIC commissioner Cathie Armour said.

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Source: ASIC to work with regtechs on market disclosure challenges – Software – Finance – iTnews