Understanding Digital Compliance Rules

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When you open a rule in the Apiax rule editor, you need to understand the information displayed and the meaning of the existing fields.

This document provides an overview of the rule sets and describes the different sections of the rule editor.

The figure below shows the overall view of the Apiax rule editor.

Apiax rule editor

Rule Set Overview

Starting with the header, find below the descriptions of the different elements that contain the current rule's properties.

Header info - rule properties

 

Rule Set Family

The rule set family is a set of rules dedicated to one specific topic, comprising rule sets (clustering a set of rule sets). Examples of rules set families: Financial Services, Financial Instruments, Client Onboarding, Data Protection, and others.

Rule Set

A rule set refers to an Apiax product which is a subset of a rule set family. For example, the Financial Services rule set family consists of different rule sets such as Brand Marketing, Research, Investment Advice, and others.

Rule Set Version

The rule set version indicates the template used to create a rule. For example, template version 26, used to create version 26.1 of the rule.

The version number is a unique non-semantic number increased every time you create a new document. Each document has one parent relation to the document from which it derived.

The rules' versions can have three stages. For example:

  • 26 - Template

  • 26.1 - Country Rule

  • 26.1.1 - Custom Rule

 

Document Type

There are three Apiax document types:

  • Template - a document type from which the Apiax country rule is created - for example, Brand Marketing version 26.

  • Country Rule - a digitised standard rule document that the regulatory engineers and clients can create, edit or access - for example, Brand Marketing version 26.1.

  • Custom Rule - a document that you can customise and adjust (client-specific rule/different from the standard rule) - for example, Brand Marketing version 26.1.1

 

Document Status

The document status indicates the current status of the rule: in progress or deployed. You can edit the rules in progress but not the deployed ones, which are read-only.

A document can also have the deleted status, meaning you can access it. However, it is not editable.

Activation Status

The activation status indicates the current status of the rule. Each Apiax Rule can have the following statuses:

  • Inactive - indicates that the rule is inactive and you cannot test it or use it.

  • Activated for Test - indicates that you can test the rule (released for the API, app usage via a respective API key).

  • Activated for Production - indicates that the rule is activated, and you can use it (released for the API, app usage via a respective API key).

To activate the Apiax rule for Production, you need to deploy it.

A rule that is in progress can remain inactive, or you can activate it for Test.

Rule Set Details

The figure below depicts the details of the rule properties visible in the tree.

Tree information and details

 

Regulatory Property of a Rule Set

A regulatory property in a rule describes conditional properties from a regulatory point of view. It has a defined type (string, integer, country etc.) and scope (any, [0,10] etc.).
The table below describes the existing regulatory properties categories:

 

Type Attribute Description Regulatory Property example Regulatory Property Option example
Context-specific Regulatory Property Describes the type of interaction between two parties. Client Interaction Type One to one
Client-specific Regulatory Property Relates to a client or prospect and a regulatory property category. Use it to bundle client-specific regulatory properties. Client Category MiFID Per Se Professional Client
Financial Institute-specific Regulatory Property Relates to a financial institute and a regulatory property category. Use it to bundle all the financial institute-specific regulatory properties. Financial Institute License Banking license
Instrument-specific Regulatory Property Related to a financial instrument and a regulatory property category. Use it to bundle instrument-specific regulatory properties. EU Fund Type UCITS

 

Regulatory Property Option / Attribute

The attribute is a regulatory property option. It describes a possible value in a defined format and scope for a particular regulatory property. Use the regulatory property together with the regulatory property options to formulate conditions.

Active Regulatory Property with multiple attributes

An active regulatory property includes one or more regulatory property options. The options allow distinguishing the possible differences in digitised regulatory content by "branching out" and creating more than one path leading to different final responses (values/results).

Inactive Property (not relevant action)

A regulatory property that is inactive and not relevant from the regulatory perspective. The templates consist of several regulatory properties which are frequently not activated due to their irrelevance for a specific legal context. If a regulatory property is irrelevant, it technically means that the outcome is the same for any value indicated (for example, for Regulatory Property = Client Category).

Responses and Actions

Actions are containers for clustering specific rule outcomes. The list below describes the types of actions:

  • Custom action - can contain different action properties (activities), for example, Attend Social Event. The outcome of a custom action can result in three possible values: YES / NO / UNDEFINED, and it can contain additional reasons, such as restriction, remark, reasoning, and others.

  • Information action - the outcome of information action is text.

  • Categorisation action - the outcome of a categorisation action is a specific term that you can use as an Input in other rule sets. For example, personal employee data or retail client.

  • Decision action - the outcome is boolean (YES / NO).

  • Link action - a technical procedure used to link an ending of a specific rule set with a start (or even a particular property) of another rule set.

  • Score action - allows attaching score to the result. The outcome of a score action is in a previously defined range.

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