How should we call the strategic initiative to promote Open Source in regulatory compliance specification and implementations? about community HOT 12 CLOSED

How about "RegTech Open Source" in parallel to "FinTech Open Source"? So "REGOS". From the proposals I think option 2 is the best.

from community.

To provide more context, my reason for preferring FinReg over RegTech is that I feel RegTech, because it is widely used, has a strong connotation which does not fully encompass our aspirations. We want the implementation and the interpretation and even the construction of the regulations themselves to leverage open source. As Gab writes, however, this is a good topic for the SIG (and I'll go with majority).

from community.

Great question @mindthegab. I have a couple of ideas but look forward to the community suggestions before I make mine known 👍

from community.

I vote #2 (2 words)

from community.

I vote for #1 =)

from community.

I vote #1

from community.

from community.

I vote Open RegTech - Number 2

from community.

I prefer options 2 & 3 - I think it makes sense to use an existing and widely used term (RegTech), rather than creating a new one (FinReg).

from community.

Thanks everyone for chiming in here!

It sounds like the consensus of the Community is towards "Open RegTech" or "Open Source RegTech".

We will provide this recommendation to the "Reg" Special Interest Group whose creation is being discussed in this issue and who's going to be the main forum where we convene interest and make progress on this initiative.

Please feel free to chime in directly on that issue and we'd love for you to join / participate if you are interested!

I really appreciate everyone's input here.

from community.

I entirely agree with favoring RegTech over FinReg, for the reasons @ColinEberhardt sets out. I think I prefer 2 (Open RegTech) more, but I'm also comfortable with 3.

from community.

@toshaellison I also vote for #2, the term finreg doesnt really exist, and the effort to create the regulations themselves is more comprehensively covered by name "Digital Regulatory Reporting" or DRR, efforts which are already underway with implications for the need of open source, data standards, and building regulatory confidence with idea of machine executable, or machine readable solutions.

from community.