On Friday 21 January 2022, ASIC announced the RegTech winners of the Business Research and Innovation Initiative (BRII). Congratulations to The RegTech Association member DigitalX Limited, Bedrock AI, Eastern Analytica Pty Ltd, Listcorp. and Pyxta.
Grants of up to $100,000 will be provided to each of the successful SMEs to conduct a feasibility study on the corporate disclosure challenge.
The challenge focuses on developing a technology solution that can aid ASIC in analysing corporate disclosures and other data to identify and assess compliance by listed companies. The requirements include:
- Continuous disclosure (price sensitive disclosure) and other disclosure obligations to the market.
- Financial reporting obligations.
- Prohibition of misleading or deceptive disclosure.
- Prohibition of practices that manipulate the pricing of securities.
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