Earlier this year R3 commissioned me to write a research paper on how blockchains/DLT could be used in applications related to regulatory reporting and compliance. The paper is now publicly available here (though you need to enter an email address to download).
The basic idea presented in the paper is that blockchains/DLT could be used by financial institutions to improve the way they comply with certain regulatory requirements. The example we look at in depth in the paper is the requirement for financial institutions to report certain types of transactions. For instance, if a bank trades a derivative, there may be a requirement to report the details of that trade in real-time to a regulator. Blockchains/DLT could improve this process by (in a sense) giving the regulator "shared access" to the actual transaction itself, rather than rely on a process of copying information and sending it through a separate process. The final third of the paper is an exploration of how we might accomplish this for over-the-counter interest rate swaps (a type of derivative) in Corda, R3's DLT product for financial services.
Thanks to Kevin Rutter, Neepa Patel, Tim Swanson, and the whole team at R3 who were a pleasure to work with.