A Model Toward Formalizing and Monitoring Compliance of Investment Funds Activities

SANNIER, Nicolas; CECI, Marcello; ABUALHAIJA, Sallam; BIANCULLI, Domenico; HALLING, Michael

doi:10.1109/REW61692.2024.00042

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A Model Toward Formalizing and Monitoring Compliance of Investment Funds Activities

SANNIER, Nicolas; CECI, Marcello; ABUALHAIJA, Sallam et al.

2024 • In 2024 IEEE 32nd International Requirements Engineering Conference Workshops (REW)

Peer reviewed

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https://hdl.handle.net/10993/61078

DOI
10.1109/REW61692.2024.00042

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Keywords :

Conceptual Modeling; Legal Requirements; Regulatory Compliance; Fund Activities

Abstract :

[en] Investment funds operate in a highly regulated sector and are thus required to act within strict constraints. Currently, compliance of fund activities is only checked through periodic inspections of the reports issued by the funds. This checking process is mostly performed manually and does not fully capture the data produced by the fund. Therefore, there is a need for providing automated solutions to support compliance monitoring of fund activities. We propose fulfilling this need using a model-driven approach. As a starting point, we create a conceptual model that formalizes the information types pertinent to compliance of fund activities. Building such a conceptual model requires analyzing multiple sources of compliance requirements, including both the applicable regulations and fund documents containing self-imposed requirements by the fund on itself. It also requires analyzing business data to understand the practice. This activity comes with various challenges mainly due to the discrepancies between the legal and business terminology. In this paper, we present our conceptual model and we further discuss the challenges we encountered during its creation. This model serves as an enabler for developing an automated support for monitoring fund activities.

Research center :

Interdisciplinary Centre for Security, Reliability and Trust (SnT) > SVV - Software Verification and Validation
NCER-FT - FinTech National Centre of Excellence in Research

Disciplines :

Computer science

Author, co-author :

SANNIER, Nicolas ; University of Luxembourg > Interdisciplinary Centre for Security, Reliability and Trust (SNT) > SVV

CECI, Marcello ; University of Luxembourg > Interdisciplinary Centre for Security, Reliability and Trust (SNT) > SVV

ABUALHAIJA, Sallam ; University of Luxembourg > Interdisciplinary Centre for Security, Reliability and Trust (SNT) > SVV

BIANCULLI, Domenico ; University of Luxembourg > Interdisciplinary Centre for Security, Reliability and Trust (SNT) > SVV

HALLING, Michael ; University of Luxembourg > Faculty of Law, Economics and Finance (FDEF) > Department of Finance (DF)

External co-authors :

Language :

English

Title :

A Model Toward Formalizing and Monitoring Compliance of Investment Funds Activities

Publication date :

2024

Event name :

The 14th International Model-Driven Requirements Engineering (MoDRE) workshop

Event place :

Reykjavik, Iceland

Event date :

2024/06/25

Audience :

International

Main work title :

2024 IEEE 32nd International Requirements Engineering Conference Workshops (REW)

Publisher :

IEEE

Pages :

272-280

Peer reviewed :

Peer reviewed

FnR Project :

FNR16570468 - 2021 (01/07/2022-30/06/2030) - Yves Le Traon

Name of the research project :

U-AGR-7512 - NCER22/IS/16570468/NCER-FT_RUMOFA_UL - BIANCULLI Domenico

Funders :

FNR - Fonds National de la Recherche

Funding number :

NCER22/IS/16570468/NCER-FT

Available on ORBilu :

since 08 May 2024

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