FIBOFBC — The structure and content of the US-specific functional entities in FBC should be revised to reflect the approach and content of the new BE Government Entities ontology and individuals

Currently, FBC includes a US-specific ontology for financial services entities and for regulators that was created prior to development of a more general approach to representation of jurisdiction-specific ontologies in the FIBO BE 1.1 RTF report and resulting specification.

The new North American and European content in BE takes an approach of modularity by continent, and incorporates recent work in development of general purpose government entities that are duplicated (in a handful of cases only) in the FBC material.

The FBC jurisdiction-specific content should be restructured to (1) follow the BE approach, and (2) to leverage that material for better definition of current and future jurisdiction-specific entities, regulators, and regulations.

It is important to do this now, in FTF, so that the material in FBC now does not need to be deprecated in its entirety in future versions, among other important reasons for doing this.

The structure and content of the US-specific functional entities in FBC should be revised to reflect the approach and content of the new BE Government Entities ontology and individuals

Currently, FBC includes a US-specific ontology for financial services entities and for regulators that was created prior to development of a more general approach to representation of jurisdiction-specific ontologies in the FIBO BE 1.1 RTF report and resulting specification.

The new North American and European content in BE takes an approach of modularity by continent, and incorporates recent work in development of general purpose government entities that are duplicated (in a handful of cases only) in the FBC material.

The FBC jurisdiction-specific content should be restructured to (1) follow the BE approach, and (2) to leverage that material for better definition of current and future jurisdiction-specific entities, regulators, and regulations.
It is important to do this now, in FTF, so that the material in FBC now does not need to be deprecated in its entirety in future versions, among other important reasons for doing this.