On the road to regulatory ontologies interpreting regulations with SBVR

Regulatory compliance has proved to be difficult and time consuming across business domains. In Financial Services, the wide and complex spectrum of regulations calls for machine assistance in making sense of, and in consuming, the regulatory text. Semantic technologies, and Ontologies in particular, bring new solutions to the challenges in consuming financial services regulations that traditional technologies fell short in addressing. Current stateof- the-art related work is silent on the role of Legal/ Regulatory Subject-Matter- Experts in building these ontologies. This paper presents an on-going study on creating regulatory ontologies. It describes a Subject-Matter-Expert-centric approach to collaborative development of regulatory ontologies using structure natural language, Semantics of Business Vocabulary and business Rules (SBVR) in particular.