sparks & honey's Robb Henzi Helps Shape RegTech Recommendations for the World Economic Forum

Regulation is central to government’s management of complex systems. However, if designed or applied ineffectively, regulation may trigger significant losses, impose unnecessary financial burdens and stifle innovation. Regulatory Technology, or RegTech for short, is the application of new technological solutions to set, effectuate and meet regulatory requirements.  

Robb Henzi, SVP, Strategy here at sparks & honey, as well as our Policy & Philanthropy Practice Lead, was recently invited by the World Economic Forum to sit on the WEF Global Future Council on Agile Governance. As part of this role, he was also asked to contribute to their latest white paper entitled: “Regulatory Technology for the 21st Century.”  

This document explores the value of RegTech through a series of case studies and identifies the 7 common success factors that help define best practices. It provides both government and business with a roadmap to start implementing RegTech, without having to rewrite entire regulatory and compliance frameworks to begin the journey. 

We’re particularly intrigued by the concept that Regulatory Technology is evolving in a manner that allows for streamlining in times of disruption. The report elaborates: 

“In the dynamic, less predictable environment of real-world problems, RegTech provides strategic tools to support standardization, automation and streamlining of regulatory processes. In times of disruption, like recent events in the financial system and the global pandemic, such mechanisms have proven critical to cutting through red tape and keeping essential services running while also ensuring that optionality is maintained until the disruptive period is over.” 

Please click here to download the full white paper.

And if you’re interested in learning more about our new Policy & Philanthropy Practice, please reach out here.