A regulatory data request is a formal demand from a supervisory authority for specific information, records, or reports from a regulated entity. These requests are made to monitor compliance, assess risks, and investigate potential violations of laws or regulations. They serve as a vital tool for oversight and enforcement within the financial sector. Entities must respond accurately and promptly.
Context
In the rapidly evolving digital asset landscape, regulatory data requests are becoming more frequent as authorities seek greater transparency into cryptocurrency exchanges and blockchain platforms. These demands help regulators understand market activities, identify illicit transactions, and ensure consumer protection. The ability to furnish comprehensive and accurate data is paramount for firms operating in this space.
South Africa's FSCA has issued a mandatory 89-question RFI, fundamentally recalibrating compliance frameworks through granular data disclosure on risk and operations.
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