CounterpartyLink Upgrades CPL Compliance Solution
CounterpartyLink has upgraded its CPL Compliance entity data solution with the addition of ultimate beneficial ownership information, more detail on Legal Entity Identifiers (LEIs) and the inclusion of Global Intermediary Identification Numbers (GIINs). The upgraded solution is designed to provide all the counterparty data required for compliance with Know Your Customer (KYC) regulations and is...
Global LEI Foundation Weighs the Options of Operating or Outsourcing Central LEI Database
The board of the Global Legal Entity Identifier Foundation (GLEIF) met last week to discuss the master agreement that will define legal relationships between Local Operating Units (LOUs) and the foundation, governance of the foundation, and funding. It also touched on the technology requirements of the Central Operating Unit (COU) of the Global LEI System...
How Often Do You Screen Counterparties for Risk?
An interesting recent poll about compliance shows that 45% of firms screen their counterparties for risk on a daily or weekly basis. But a quite significant 39% still screen only annually. A remaining 10% screen monthly or quarterly, and 6% just one-time only at on-boarding. We can only believe that the frequency with which firms...
LEI Foundation Fixes Fees to be Paid by LOUs to Fund Global LEI System
The Global Legal Entity Identifier Foundation (GLEIF) has fixed the licence fee that Local Operating Units (LOUs) must pay to the foundation for each LEI they issue at $20 a year. It has also introduced a member credit fee of $10 per LEI that LOUs must pay to the foundation to supplement funding of initial...
Chair of LEI Foundation Details Final Push to Complete Global LEI System
The formation of the Global Legal Entity Identifier Foundation (GLEIF) and the first meeting of its board of directors late last month signal a final push towards completion of the Global LEI System (GLEIS). A CEO for the foundation is expected to be appointed in October and will manage the Central Operating Unit (COU) of...
Global LEI System Takes Major Step Forward with Formation of Foundation
The Global Legal Entity Identifier System (GLEIS) has taken a major step forward with the establishment and first meeting of the Global LEI Foundation (GLEIF). The foundation will develop the Central Operating Unit (COU) of the GLEIS and take over management of the system from the Regulatory Oversight Committee (ROC) of the LEI over the...
Oversight Committee of the Global LEI System Moves Common Data File Forward
The Regulatory Oversight Committee (ROC) of the Global Legal Entity Identifier System (GLEIS) has published the second part of a common data file format for pre-Local Operating Units (LOUs). This follows the introduction in February 2014 of a first common data file format for pre-LOUs to use in publishing LEI data or communicating with other...
Data Management Summit: Managing Entity Data with the Global LEI
The global Legal Entity Identifier (LEI) system is growing in terms of the number of operational pre-Local Operating Units (LOUs) within the system and the number of LEIs they have issued, but it remains incomplete and continues to pose data management problems without a Central Operating Unit (COU). The status of the global LEI system...
LuxCSD Becomes a pre-Local Operating Unit in the Global LEI System
LuxCSD, a central securities depository jointly owned by the Central Bank of Luxembourg and Clearstream International, has become Luxembourg’s pre-Local Operating Unit (LOU) which, with the help of DTCC, will issue Legal Entity Identifiers (LEIs) within the Global LEI System. LuxCSD is sponsored as a pre-LOU by the Central Bank of Luxembourg and has been...
Talking Reference Data with Andrew Delaney: On the Enduring Appeal of the LEI
It’s a sad day indeed when dinner party conversation turns to a 20-digit number. And yet, if asked what is the most compelling topic of coverage in our sphere of influence, I feel compelled to include within the top three at least: the LEI. Of course, explaining what the LEI is all about – and...