Metarules, Judgment and the Algorithmic Future of Financial Regulation in the UK.
UK financial regulators are experimenting with the conversion of rulebook content into machine-readable and executable code. A major driver of these initiatives is the belief that the use of algorithms will eliminate the need for human interpretation as a deliberative process, and that this would be...
| Publicado en: | Oxford Journal of Legal Studies Vol. 43; no. 4; pp. 777 - 804 |
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| Formato: | Artículo |
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Oxford University Press / USA
Winter2023
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| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=hlh&AN=174108381&site=ehost-live header: @attributes: shortDbName: hlh uiTerm: 174108381 longDbName: Humanities International Complete uiTag: AN controlInfo: bkinfo: jinfo: jid: 01436503 BJ4 jtl: Oxford Journal of Legal Studies issn: 01436503 maglogo: N pubinfo: dt: Winter2023 vid: 43 iid: 4 pid: 622 pub: Oxford University Press / USA artinfo: ui: 174108381 10.1093/ojls/gqad014 ppf: 777 ppct: 27 formats: fmt: – @attributes: type: T – @attributes: type: P size: 241KB tig: atl: Metarules, Judgment and the Algorithmic Future of Financial Regulation in the UK. aug: au: Georgosouli, Andromachi su: Finance laws Algorithms Decision making in economic policy Digitization Economic policy United Kingdom sug: subj: United Kingdom Finance laws Algorithms Decision making in economic policy Digitization Economic policy keyword: algorithmic decision-making code digitalisation financial regulation governance legitimacy rules ab: UK financial regulators are experimenting with the conversion of rulebook content into machine-readable and executable code. A major driver of these initiatives is the belief that the use of algorithms will eliminate the need for human interpretation as a deliberative process, and that this would be a welcome development because it will improve effectiveness while cutting time and costs for regulators and the industry alike. In this article, I set out to explain why human interpretation should be preserved and further harnessed if data-driven governance is to work at all. To support my thesis, I bring attention to the limited translatability of rulebook content into code, and to the difficulties for machines to engage with the full spectrum of tasks of analogical reasoning. I further contend that it would be desirable to preserve human interpretation on procedural grounds pertaining to the legitimacy of financial regulators. I conclude with recommendations about the future design of the financial rulebooks. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: Y custom: © 2019 Oxford University Press. item: Oxford Journal of Legal Studies holder: Oxford University Press / USA dt: @attributes: year: 2023 holdings: @attributes: islocal: N |
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