FCA Regtech in UK

After the financial crisis in 2008, stricter financial regulations led to the increase of compliance costs of enterprises, and financial innovation made the regulatory situation more complex. In this context, Regtech emerged. The Financial Conduct Authority (FCA) first proposed the concept of Regtech in 2015, and actively explored related fields. This paper takes the Digital Regulatory Report project (DRR) and Blockchain Technology for Algorithmic Regulation and Compliance project (BARAC) as examples, and introduces the construction method of systems and the underlying technologies. These projects are pioneering and innovative, but they also face many difficulties, such as imperfect technology, high cost and difficult practice. At present, China is also studying the development path of Regtech. The experiences of FCA remind us that we must develop related technologies, formulate data standards, pay attention to information security protection, and strengthen cooperation with enterprises and other departments.