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Management of Regulation and Compliance

OMG Document: bmi/2009-09-24

On September 22, 2009 the OMG issued a new RFP, “Management of Regulation and Compliance” (MRC), developed by the Regulatory Compliance DSIG and sponsored by the Business Modeling and Integration (BMI) Task Force.

Letters of Intent are due by February 15, 2010

Initial submissions are due by May 24, 2010

Objective of MRC RFP

Most businesses have to comply with regulation. This requires more than simply applying regulations “as they come”. People in those business have to decide what their enterprises need to do in order to comply. They need software tools to support them in:

  1. Interpreting what regulations mean to their enterprise
  2. Assessing the impact of the regulations on the enterprise’s policies and operations
  3. Deciding how to react (and documenting why), and distributing policies and guidance for compliance
  4. Demonstrating that compliance policies are being followed across the enterprise and that they are effective.

The objective of this RFP is a specification from which such tools could be developed. The RFP solicits proposals for the following:

  1. A metamodel of interpreted regulation and compliance actions, with a supporting vocabulary.
  2. A specification for interchange of model instances, i.e. for interpretations and compliance actions for instances of regulation.

Reference Database of Regulation

The RFP mentions reference databases of regulation, playing two roles:

  1. Resources that can be accessed from MRC-compliant tools, to support assessments of the impact of regulations on an enterprise
  2. Sources of the kind of vocabulary of regulation and compliance that ought to be built into the MRC metamodel as classes, roles, associations, categories, etc.

An example of this kind of database has been created for reference by submitters, a subset of the OMG's Governance, Risk and Compliance Global Regulatory Information Database (GRC-GRID).

It can be found at [URL available soon]

mrc_page.txt · Last modified: 2009/09/22 11:38 by johnhall