Whether for use by financial regulators or industry, applications rely on access to the ‘human readable’ regulatory content made available online by regulatory authorities. Many regulatory authorities have made this possible with an ‘open data’ policy allowing 3rd parties, including commercial users, to access the publicly available content on their web sites.
However, there are regulatory authorities whose websites have terms and conditions of use or are set up in such a way that they preclude this publicly available regulatory content from being used in commercial applications without express permission.
This represents a material global barrier to innovation. Without a clear path to accessing this regulatory content, firms are prevented from offering new applications in the markets regulated by the authorities publishing this content.
What content permission is the RGP requesting?
To achieve the objectives of the Regulatory Genome Project (RGP), we need financial regulators to grant permission to allow RegGenome to represent their public regulatory content in its repository in a ‘machine readable’ form.
The data we request access to is:
- only taken from public sources
- represented unaltered (RegGenome simply enriches the content with metadata and structures it in a data layer that can be integrated into applications)
- timely with regulator updates and version controls.
The data is used in
- digital tools owned by the University of Cambridge and made available to regulators
- commercial applications to help increase the efficiency of compliance processes with regulated firms
- academic research.
For regulatory authorities that do not have an ‘open data’ policy allowing 3rd parties, including commercial users, to access this content we request that regulators grant access through a ‘no objection’ letter.