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JFSC AI-powered regulatory chatbot - Meet 'Reggie' [in beta]

24/10/2024

As part of the JFSC's strategic commitment to digital transformation, they have launched a new AI-powered regulatory chatbot in beta.

The chatbot,  Reggie, provides users with a self-help platform that provides human-like answers to regulatory questions.

Like other large language models, the tool uses generative AI to provide helpful and conversational responses to user queries. Reggie is bespoke to the JFSC and only bases its answers on trusted sources to reassure users.

Users can prompt the tool’s output to meet their specific needs, from individuals looking for layperson summaries of regulation to compliance specialists looking to locate particular source material quickly.

The chatbot currently sources material from the

  • Regulatory codes of practice and
  • The anti-money laundering, countering terrorist financing, and countering proliferation financing handbook.

The beta launch, which, in essence, is the JFSC's next phase of user testing, will guide further development of Reggie. Based on its success, additional source material will be added over time, further increasing the tool’s potential application.

Chief Risk Officer Chris Gedrych said:

  • “The regulatory landscape is complex, and we are keen to find ways to support individuals and businesses in understanding it. Reggie is an integral part of this work and demonstrates how we can use technology to support regulatory effectiveness.
  • While not a substitute for fulfilling regulatory obligations, Reggie will be a helpful tool for individuals from various backgrounds looking for a first port of call to answer their regulatory questions. Reggie will continue to be developed over time in response to user feedback to ensure it remains a helpful tool.”

See Reggie here. https://www.jerseyfsc.org/industry/reggie-regulatory-chatbot/

About Reggie

  • Using generative AI technology, Reggie responds to various regulatory queries.
  • Initially launched in beta, Reggie currently uses the JFSC codes of practice and the anti-money laundering and countering terrorist financing handbook as its knowledge base, with more resources to be added over time. 
  • While Reggie offers valuable assistance, it’s important to remember that the chatbot is not a substitute for fulfilling regulatory obligations but a helpful starting point for addressing regulatory questions. 
  • As the JFSC continue to develop Reggie based on user feedback, the JFSC encourage you to explore the tool and share your experience to help the JFSC improve. 
  • To get started with Reggie, follow the links below: 

Links

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As well as owning and publishing Comsure's copyrighted works, Comsure wishes to use the copyright-protected works of others. To do so, Comsure is applying for exemptions in the UK copyright law. There are certain very specific situations where Comsure is permitted to do so without seeking permission from the owner. These exemptions are in the copyright sections of the Copyright, Designs and Patents Act 1988 (as amended)[www.gov.UK/government/publications/copyright-acts-and-related-laws]. Many situations allow for Comsure to apply for exemptions. These include 1] Non-commercial research and private study, 2] Criticism, review and reporting of current events, 3] the copying of works in any medium as long as the use is to illustrate a point. 4] no posting is for commercial purposes [payment]. (for a full list of exemptions, please read here www.gov.uk/guidance/exceptions-to-copyright]. Concerning the exceptions, Comsure will acknowledge the work of the source author by providing a link to the source material. Comsure claims no ownership of non-Comsure content. The non-Comsure articles posted on the Comsure website are deemed important, relevant, and newsworthy to a Comsure audience (e.g. regulated financial services and professional firms [DNFSBs]). Comsure does not wish to take any credit for the publication, and the publication can be read in full in its original form if you click the articles link that always accompanies the news item. Also, Comsure does not seek any payment for highlighting these important articles. If you want any article removed, Comsure will automatically do so on a reasonable request if you email info@comsuregroup.com.  

news disclaimer -

As well as owning and publishing Comsure's copyrighted works, Comsure wishes to use the copyright-protected works of others. To do so, Comsure is applying for exemptions in the UK copyright law. There are certain very specific situations where Comsure is permitted to do so without seeking permission from the owner. These exemptions are in the copyright sections of the Copyright, Designs and Patents Act 1988 (as amended)[www.gov.UK/government/publications/copyright-acts-and-related-laws]. Many situations allow for Comsure to apply for exemptions. These include 1] Non-commercial research and private study, 2] Criticism, review and reporting of current events, 3] the copying of works in any medium as long as the use is to illustrate a point. 4] no posting is for commercial purposes [payment]. (for a full list of exemptions, please read here www.gov.uk/guidance/exceptions-to-copyright]. Concerning the exceptions, Comsure will acknowledge the work of the source author by providing a link to the source material. Comsure claims no ownership of non-Comsure content. The non-Comsure articles posted on the Comsure website are deemed important, relevant, and newsworthy to a Comsure audience (e.g. regulated financial services and professional firms [DNFSBs]). Comsure does not wish to take any credit for the publication, and the publication can be read in full in its original form if you click the articles link that always accompanies the news item. Also, Comsure does not seek any payment for highlighting these important articles. If you want any article removed, Comsure will automatically do so on a reasonable request if you email info@comsuregroup.com.