FIBOBE11 — The definition of NaturalPerson in the LegalPersons ontology is inadequate for banking needs

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.

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

The resolution to this issue crosses a number of ontologies, which means that resolving it requires considerable documentation. The issue is also considered lower priority by the 1.1 RTF. Given time constraints, the RTF has determined that we need to defer this to the 1.2 RTF.