In a previous paper, “A linguistics approach to solving financial services standardization,”1 I present the case that the current approach and methodology for development of standards, and the subsequent application of those standards, was in need of change. Most importantly, the view held by general industry participants, and most significantly the regulatory community, oversimplifies the current environment and oversubscribe the applicability of standards that exist or are under development. To summarize the paper’s final findings:
• While a common financial language seems to be a reasonable rallying cry, it presents an oversimplification of what the end goal should be. The real work is in the proper definition ...
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