The Regulatory Genome Project (RGP) is a transformational initiative being led by the University of Cambridge. The RGP’s primary mission is to develop and support the adoption of an open standard framework for classifying regulatory content.
The initiative is a multi-year project, inspired by the scientific and commercial innovation that followed the collective effort to code the human genome. It includes a growing collaboration network of regulatory agencies, companies and academic researchers who are engaged across a number of core activities within the project.
What are these activities?
In building this open standard framework for classifying regulatory content, the RGP combines the globally leading expertise from two departments within the University of Cambridge – financial technology and regulation from the Cambridge Centre for Alternative Finance (CCAF) and artificial intelligence and natural language processing from the Department of Computer Science and Technology.
This powerful combination of technological expertise and domain knowledge provides the basis for a distinctive set of machine-readable taxonomies built upon and organised around financial regulatory obligations. The programme for building these taxonomy sets is currently underway and will be released as a public good from 2023.
This community comprises an expanding group of organisations, initially from within the financial services sector, who share a commitment to the development of this open standard framework.
Engagement within the community is designed to foster knowledge sharing and learning amongst members and to facilitate best practice that keeps pace with increasing regulatory uncertainty and the continuing digitisation of financial services. The membership contribution from these organisations provides important financial support as well as subject matter expertise towards the building of the RegGenome.
The regulatory community engages with the RGP in three distinct ways. First, the University draws on feedback from regulators to develop and review the taxonomical structure representing the underlying financial regulatory obligations in the RegGenome.
Second, regulators who are embarking on programmes to digitise their rulebooks can draw on the RegGenome to support these efforts.
Finally, through the use of the University’s RegSimple application, regulators can access regulatory content to increase the efficiency of their regulatory benchmarking processes which inform the development of policy and regulation.
All three routes are facilitated by the Cambridge Centre for Alternative Finance (CCAF) in the Cambridge Judge Business School which supports regulators, particularly in Lower Middle-Income Countries, in developing and deploying regulation reflecting global best practices through its portfolio of scalable digital tools and capacity building services.
The RegGenome lays the foundation for regulatory innovation within the financial services industry, making interoperability between regulatory applications possible.
Regulatory Genome Development Limited (RGDL), a commercial spin-out emerging from the RGP, has been granted an exclusive licence to develop the RegGenome technology and translate this into commercial application. RGDL is building a commercial reference repository of ‘RegGenome-compliant’ regulatory content in machine readable form.
In partnership with 3rd party application providers and companies in the financial services sector, this unlocks the potential to innovate solutions powered by the repository’s dynamic, structured content.
News and announcements
Latest news on the Regulatory Genome Project.