Regulatory Implementation and Data

REGULATORY IMPLEMENTATION AND DATA

The Regulatory Implementation and Data Working Group supports and collaborates with other ACSA Working Groups on topics with a data element as a means of supplementing the core working group membership on the tasks to be completed.

With the increasing focus on and demand for data relating to regulations, legislation and the operating environment, the Regulatory Implementation and Data Working Group was created to help develop a consistent approach to these diverse set of data related topics.

We look to foster positive working relationships with the Regulators and have open dialogue on items such as implementation challenges of changes that may impact our members and our clients.

The challenge with the field of “data” is the potential breadth and fact that interpretation is always context specific. One of the primary sources of data topics is Regulatory where there is a need to drive regulators to harmonise their approach to data with the objectives to avoid duplication and agree common data dictionaries.

To deal with these complexities, a set of Data Principles was developed that can be applied across the broad spectrum of data topics that ACSA deals with. These Principles were in part influenced by the framework established by ASIC for the Recurrent Data Collection Project.

Current major focus areas, in co-operation with the Regulatory Working Group, are Portfolio Holdings Disclosure and APRA Superannuation Data Transformation.