APFIC Keynote: Regulations Require Standards Collaboration

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Ronalds said that key to being able to comply with many new rules is developing common standards to make the right data available in an accessible form. However, he added that while emerging regulations are highly prescriptive in some aspects, they are not always explicit about data requirements, leaving firms facing a dilemma over whether or not they are actually compliant.

"In the current environment, regulators think the best thing is to shoot first and ask questions later," Ronalds said. "Th

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