A regional crisis resolution simulation would therefore assist in testing the available resolution tools, the communication plans in place, and the possible knock-on crossborder effects, thus allowing regulators to be better prepared in a real-life situation by ensuring that the most appropriate solution with the most desirable intended consequences is exercised.
Page 10 of 13  FinTech  Given the rapid developments in financial technology (FinTech), it is evident that we are potentially facing one of the most severe innovation- and technology-driven disruptions to products and services, particularly in the financial sector space. Regulators across the globe are grappling with understanding these technological developments and assessing the regulatory implications.