RegTech and SupTech
In order to provide effective and high-tech regulation and supervision, the Bank of Russia worked out a SupTech and RegTech action plan (roadmap) that includes pending projects and initiatives that accommodate the proposals of financial market participants.
The implementation of the action plan will:
- reduce the regulatory burden of supervised entities;
- raise the quality of the Bank of Russia’s control and supervision efforts;
- optimise financial market participants’ compliance with Bank of Russia requirements.