General description:
The Regulatory Reporting Metadata Vocabulary (RRMV) is an ontology that can be used to structure reporting requirements (‘requests’) in legal provisions. A ‘request’ is an obligation organised in a specific format that is defined by an agent (e.g. European Commission) to perform an action (e.g. to report) in a specific interval of time. It can be integrated into IT systems that manage reporting requirements registries. It is an EC solution.
Needs that the solution addresses:
The solution supports administrative burden reduction and promotes interoperability amongst systems used for managing reporting requirements. The RRMV can be used as a flexible model to structure information contained in reporting requirements of a legal text. When the specification is used to structure all reporting requirements contained in a legal system (or across legal systems), the resulting database can be leveraged by a policy officer at the stage of drafting legislation to verify the potential duplications or overlaps of existing reporting requirements and verifying whether there is indeed a need to add a new reporting requirement. If published openly, such a database could also greatly increase the transparency of the legal system. People and organisations impacted by such obligations could more easily identify the requirements they need to comply with.
Features that the solution implements:
Standardised vocabulary that may be used to structure legal obligations related to reporting requirements.
Who can use it?
- Anyone who drafts a legal text involving reporting requirements
- Legal informatics professionals and IT experts in charge of setting up reporting systems.
The RRMV can be used by:
- adopting this data model in systems involved in the management of reporting requirements (e.g. EdiT);
- developing this data model to the users own environment;
- manually annotating the legal texts according to the ontology.
To start with, access the technical documentation from this website: https://code.europa.eu/regulatory-reporting/rrmv.git
The RRMV can be used in legal editors and systems that manage registries with legal obligations.
Standards used in the solution:
European Legislative Identifier ontology, CCCEV ontology, SKOS concepts.
Contribution of the solution to a policy:
The solution was developed for and contributes to public policies on interoperability and competitiveness. The solution is an outcome of the Study on Regulatory Reporting Standards (SORTIS) conducted by the EC.