agitana commented 2 years ago

Regulation Innovation SIG

Date

Nov 16th 2021 - 12pm EST / 5pm GMT

Meeting notices

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Agenda

[x] Convene & roll call (5mins)
[x] Display FINOS Antitrust Policy summary slide
[x] Review Meeting Notices (see above)
[ ] 1. Review the overview diagram and consider the following questions:
- [ ] a. From a business logic perspective, does this make sense and is it a useful communication tool to convey the overall components of the project and how they fit together?
- [ ] b. From a technical perspective, does the architecture make sense?
- [ ] c. Regarding the technologies / standards called out (in the blue tags), are these the most appropriate tools for the job?
[ ] 2. Assuming general agreement with the overall approach proposed in (1), discuss the approach to developing each of the key components:
- [ ] a. Graph database schema (RDFS)
  - [ ] i. Looking for input on the best open source graph database tools – leaning towards Apache Jena – does anyone have experience with this?
  - [ ] ii. Also looking for input on tools for creating and maintaining a large, scalable graph database, ideally with community input in creating and editing triples/quads
- [ ] b. Business profile
  - [ ] i. Looking for input on how firms are currently codifying their policies, controls and other aspects of their business profile – we don’t want to reinvent the wheel here.
  - [ ] ii. Need to make a decision on the tooling and data standard for developing and maintaining the business profile – both Morphir and Legend have been suggested
- [ ] c. Regulatory text parser: four key components to be built:
  - Data standard for structured regulatory content – probably using Akoma Ntoso as the starting point
  - Text extraction algo to parse regulatory texts and convert them into the standardised structured format
  - Named entity recognition algo to parse the structured format and tag concepts which exist in the taxonomies
  - Obligation extraction algo to parse the structured format and extract the regulatory obligations
- [ ] d. Taxonomy
  - [ ] i. We have previously circulated a proposed methodology to build a taxonomy by parsing texts - https://kar.kent.ac.uk/75253/
  - [ ] ii. We are interested in input on open source tool to build and manage taxonomies (ideally with community collaboration in mind)
  - [ ] iii. Looking for input on existing open source reference taxonomies which can be integrated into the design
[ ] 3. Proof-of-concept: The first proof of concept will look at Liquidity Reporting. This is relevant for banks in both US and UK (and EU) as all three jurisdictions have implemented the LCR and NSFR as the core metrics for liquidity reporting. In addition, there are changing regulatory requirements (Fed 6G / 2052a in the US; PRA110/AMM in the UK) which serve to focus minds on the topic. We are looking for input on what would be of greatest value to firms from this proof-of-concept.
[ ] 4. AOB
[ ] AOB, Q&A & Adjourn (5mins)

Decisions Made

[ ] Decision 1
[ ] Decision 2
[ ] ...

Action Items

[ ] Action 1
[ ] Action 2
[ ] ...

WebEx info

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