Sandbox Jersey: a round-table discussion of how one jurisdiction is seeking to harness the power of RegTech.
Held on Wednesday, May 23, 2018.
Tony Moretta (Digital Jersey)
Amy Bryant (Jersey Finance)
Breige Tinnelly (AQMetrics)
However much we say we love FinTech, the fact is that the financial services marketplace is – and will be – shaped by regulation almost as much as it is shaped by product and channel innovation. And that makes the debate over RegTech important.
To date, as we all know, the FCA has been in the vanguard of the RegTech debate – not least through its support for (and proselytising on behalf of) a “sandbox” approach, in which FinTech start-ups can catch a break on regulatory and compliance costs and obligations. But it is far from alone. Indeed, Jersey may be even further ahead through its Digital Jersey programme, which also incorporates a regulatory “sandbox”. After all, while London must be cautious, given the enormous size (and clout) of its financial services industry, Jersey has an excellent opportunity to be at the cutting edge as far as financial services, technology, and regulation are concerned.
Reflecting that, Digital Jersey has recently appointed our old friend Dave Birch as an advisor – which gives us a great opportunity to benefit from his wit and wisdom. (For those who don’t know him, Dave – who has rebranded himself as David G.W. Birch – cofounded Consult Hyperion twenty years ago and is ranked as one of Europe’s “power 50” in digital financial services; he is also one of the UK’s most authoritative commentators on digital financial services, who takes no prisoners when it comes to promoting the digital future.)
Backing Dave up will be two of Jersey’s finest:
- Tony Moretta, CEO at Digital Jersey; and
- Amy Bryant, Deputy CEO at Jersey Finance.
Tony’s background is in telecoms – digital radio, broadcast media, and digital advertising, morphing into digital identity. He has recently joined Digital Jersey with a brief to build it up as an accelerator for Jersey’s tech sector and to push the island’s goal of becoming a digitally-enabled society. Amy is a qualified Chartered Accountant and Chartered Tax Advisor, whose current role is to ensure that the best interests of the finance industry are effectively represented, in terms of legislation, regulation and key areas of innovation that can enhance Jersey’s jurisdictional product and services offering.
So, is Jersey on track to become a leading RegTech jurisdiction for financial firms? Joining us to help kick off the discussion we are delighted to welcome Breige Tinnelly, head of UK business development for AQMetrics. Breige spent twenty years in law and financial services before joining AQMetrics, a RegTech firm specialising in risk and regulatory reporting for investment managers and trusts.
In some ways, Jersey is itself a “sandbox”, in which initiatives can be played out. Hence the emphasis on RegTech… if you (or a colleague) would like to join us for what I am sure will be a lively discussion, please let us know by emailing email@example.com or by calling the CSFI on 0207-621-1056. As usual, there will be wine and sandwiches.