DigitalX is pleased to announce its successful selection for funding from the Department of Industry under the Business Research and Innovation Initiative (BRII) into the use of regulatory technologies by the Australian Securities and Investments Commission (ASIC).
The BRII challenge focuses on the development of a technology solution to help ASIC better analyse corporate disclosures. The goal is to deliver a more efficient and effective way for ASIC to supervise and enforce disclosure and reporting obligations of listed companies.
DigitalX will deliver the project through its Drawbridge regtech platform over a three-month period expected to commence in February 2022. The Drawbridge platform will be expanded to enable the analysis of market and social media data to identify situations where price sensitive information may not have been properly disclosed to the market.
The project will also assess commercial pathways for use of the solution by other regulatory agencies and listed companies internationally, and produce a report into the feasibility of the solution for broader adoption. Two of the five stage one grant recipients may then receive further funding of up to $1M over 15months to progress the technology solution to a proof of concept phase.