ASIC's data strategy for 2017-20 outlines a number of initiatives on how the regulator will capture, share, and use data. The strategy forms part of the 'One ASIC' approach, which is aimed at “connecting the dots” to achieve better regulatory outcomes.
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These data initiatives have been completed or will be set up over the next three years, and include creating a chief data office; establishing frameworks and bodies aimed at strengthening data governance; and establishing a data science laboratory.
ASIC chairman Greg Medcraft said that good regulatory decision-making starts with good quality, well-governed data.
“The intelligence and insights we derive from analysing our data will give us a better understanding of the regulatory environment, so that we can detect, understand, respond appropriately and ultimately, contribute to the financial well-being of all Australians,” he said.
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