In November of 2017, the Financial Conduct Authority (FCA) and the Bank of England (BoE) enlisted experts within the UK Government and in the private sector and academia to create a proof of concept model to implement financial regulations in model-driven, machine executable form.
This white paper was prepared to evaluate the long-term feasibility of this approach and considers questions that evaluate success, such as:
- How easy is it to understand rules in the MDMER code base for non-subject matter experts?
- How easy is it to change and update the MDMER code base?
- How easy is error detection within the code base?
- How easy is it to differentiate between rules that should be applied in MDMER and the rules that require further human input?