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  1. OMG Specification

FIBO Business Entities — Open Issues

  • Acronym: EDMC-FIBO/BE
  • Issues Count: 2
  • Description: Issues not resolved
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Issues not resolved

Issues Descriptions

The current definition of LegalEntity should really be LEICapableEntity

  • Key: FIBOBE12-3
  • Status: open  
  • Source: Thematix Partners LLC ( Elisa Kendall)
  • Summary:

    In the LegalPersons ontology, the LegalEntity concept is defined as something that fulfills the requirement for an LEI-capable entity. The concept should be retained, but moved to the LEIEntities ontology and renamed LEICapableEntity,

  • Reported: EDMC-FIBO/BE 1.0b2 — Thu, 8 Oct 2015 00:03 GMT
  • Updated: Tue, 11 Oct 2016 15:01 GMT

The definition of NaturalPerson in the LegalPersons ontology is inadequate for banking needs

  • Key: FIBOBE12-2
  • Status: open  
  • Source: Thematix Partners LLC ( Elisa Kendall)
  • Summary:

    Based on review by several bankers and attorneys, the notion of a natural person as currently captured in BE is too broad for legal purposes, and what is actually needed is a narrower definition of legally capable person. A legally capable person is either a legally capable adult or emancipated minor as defined in some jurisdiction.

    The definition of legally capable adult already exists in FND, but here we need to augment that definition to make the connection to a jurisdiction and to make it a child of LegalPerson in the context of BE.

  • Reported: EDMC-FIBO/BE 1.0b2 — Wed, 7 Oct 2015 21:46 GMT
  • Updated: Tue, 11 Oct 2016 15:01 GMT