ASIC rolls out data strategy

ASIC rolls out data strategy | Insurance Business

ASIC rolls out data strategy
The Australian Securities and Investments Commission (ASIC) has launched a new data strategy intended to transition the corporate watchdog into a more data-driven and intelligence-led organisation.

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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