About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

FSB Establishes Expert Group to Make LEI Implementation Proposals

Subscribe to our newsletter

Apparently addressing growing industry concerns about the prospect of delays in adoption of the long-awaited legal entity identifier (LEI), the Financial Stability Board (FSB) has set up an expert group to make what it describes as “concrete proposals” on the implementation of a global LEI system. At its meeting in Basel this week, the FSB said the group would bring together experts from the official sector but would be supported by an advisory panel with members derived from the private sector.

The potential for delay to the LEI project – despite plans for the release of a new ISO standard this week – have dominated recent debate on the topic. Current thinking has LEI utility provider Swift and its proposed facilities manager the Depository Trust & Clearing Corp. (DTCC) examining the scope of the Commodity Futures Trading Commission’s (CFTC) requirements with a view to building the LEI database starting with the swaps market. LEIs would be established for entities involved in these markets and then the plan would be to extend this to other markets in a phased manner.

At the Basel meeting, FSB said it was supporting the development of an LEI by coordinating work among the global regulatory community to prepare recommendations for the appropriate governance framework, as requested at the G20 Cannes Summit. The new expert group will deliver its implementation proposals by April, at which point they will be reviewed by the FSB and presented to the G20 at its summit in June.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Streamlining trading and investment processes with data standards and identifiers

Financial institutions are integrating not only greater volumes of data for use across their organisation but also more varieties of data. As well, that data is being applied to more use cases than ever before, especially regulatory compliance and ESG integration. Due to this increased complexity of institutions’ data needs, however, information often arrives into...

BLOG

Meeting the 72 Hour Trade-Reconstruction Rule – 10 Holistic Surveillance Leaders for 2025

When regulators rewrote the rulebook after the financial crisis, surveillance teams were handed an almost impossible brief: show us everything that led to a trade. In the United States, the CFTC’s Dodd-Frank swap-dealer rules (§1.35 and §23.202) imposed a 72-hour deadline to reconstruct a transaction, forcing banks to retrieve orders, voice calls, chat messages and...

EVENT

RegTech Summit London

Now in its 9th year, the RegTech Summit in London will bring together the RegTech ecosystem to explore how the European capital markets financial industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

Regulatory Data Handbook 2025 – Thirteenth Edition

Welcome to the thirteenth edition of A-Team Group’s Regulatory Data Handbook, a unique and practical guide to capital markets regulation, regulatory change, and the data and data management requirements of compliance across Europe, the UK, US and Asia-Pacific. This year’s edition lands at a moment of accelerating regulatory divergence and intensifying data focused supervision. Inside,...