Rules as Code considered by Senate Select Committee on Financial Technology and Regulatory Technology (Australia)

In its Second Issues Paper of 2020 the Senate Select Committee on Financial Technology and Regulatory Technology (Australia) invited submissions on priority areas for implementing a ‘Rules as Code’ vision and how this can be accelerated.

Today La Trobe LawTech and QUT (including Guido Governatori) gave evidence to the Committee and we found much common ground.

La Trobe LawTech mentioned various current initiatives, including the establishment of this Community of Practice. To accelerate development, Pompeu Casanovas and I argued for a bold, government framework for collaborative public-private rule coding innovation. This framework should enable more challenging projects to be undertaken, in order to expand our rule coding knowledge.

Pilot projects in this space require, for example, collaboration between researchers and other innovators, departments and agencies, parliamentary counsel and, in some cases, members of parliament. The framework should facilitate the identification of supported projects and the formation of collaborative teams. Ideally a regulatory sandbox should be created to support rule coding projects, evaluate results and eventually support and assess implementation.

What are your thoughts on facilitative frameworks that would allow for a range of useful projects that can also compare and assess different approaches?