Financial Regulation Ontologies

The Financial Regulation Ontologies (FRO) are a set of linked ontologies to implement Semantic Compliance in the Financial Industry.

Financial Regulation Ontologies logo

Semantic Compliance is the ontological approach to regulatory reporting and oversight, using W3C standard extensions to the Web for specification and design, and semantic web technologies for implementation.

Ontology Web Language (OWL), a W3C standard ensures FRO compatibility with semantic web tool and technologies.

Regulatory compliance combines the domains of Legal and Finance. FRO imports the dominant domain reference ontologies:

  • FIBO       Financial Industry Business Ontology for funds, clients, securities, derivatives, positions etc.
  • LKIF Legal Knowledge Interchange Format for the law, SEC rules, forms, submissions and responses.

Jayzed Data Models Inc. publishes the ontologies on a set of related websites. The publishing sites have the OWL (turtle notation) code and URIs for import. The home pages are a good starting point to lean more and download tutorials.

FinRegOnt is the core ontology for Financial Institution compliance.

The content is common and needed for all subsectors.

 Financial Regulation Ontology  http://finregont.com/
  • Alignment* of Legal and Finance domain ontologies.
  • Alignment with EthOn, the Ethereum (blockchain) ontology
  • XBRL ontology
  • United States Code Title 12 Banks and Banking and Title 15.275 Investment Companies and Advisers
  • Code of Federal Regulations Title 12-217, 225, 252 (Banking)and Title 17.275 (Securities & Exchange Commission)
  • Templates and mapping functions for Staging into Target Ontology data movement.

* Ontology Alignment defines correspondences (equivalent classes and subclass of) between two ontologies.

The operational ontologies for Insurance, Banking, Funds & Hedge Funds import FinRegOnt and define content specific to the sub-domain:​

   Bank Regulation Ontology  http://bankontology.com/
 An RDF/OWL version of the XBRL Bank Call Report (FFIEC 031). Extensions load the Call Report into FIBO and to create XBRL compliant filings.
Fund Ontology logo  Fund Regulation Ontology  http://fundontology.com/
 Semantic rules implement laws and regulations of Dodd-Frank and the Investment Adviser Act. An ontology version of SEC form ADV (advisors) loaded with fund data. The ontology evaluates, whether an advisor must register with the SEC.
Hedge Fund Ontology logo  Hedge Fund Regulation Ontology  http://hedgefundontology.com/
 An specialization of the Fund Ontology with classes for Alternative Investment Funds. The ontology has an RDF/OWL version of SEC from PF (private fund)
Insurance Ontology logo  Insurance Regulation Ontology  http://insuranceontology.com/
 Solvency II reviews the prudential regime for insurance and reinsurance undertakings in the European Union. The ontology defines an RDF/OWL version of the EIOPA XBRL reports/filings.

Licensing

Ontology files published on the FRO domain are Open Source. The reference ontologies, LKIF and FIBO have same public license (GPL & MIT).

Financial Institutions should purchase at full “everything” license:

  • Protect entitlements and receive software updates
  • Use Ontology extensions, mapping templates and functions
  • Copy all educational and supplemental materials (PowerPoints, diagrams, SPARQL queries) for internal use.

FinRegOnt can be bundled with the sub-domain ontologies. Packages include Ontology licenses and Semantic Compliance training and implementation consulting.

Discounts are available for regulators and academic use.

Please email jziemer@jayzed.com for details.