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Recorded Webinar: The Global LEI System – Putting the Pieces in Place
This webinar has passed, but you can view the recording here. The Regulatory Oversight Committee has sustained development of the global legal entity identifier system – or GLEIS – over the summer months, most recently endorsing pre-Local Operating Units in China, Argentina, Poland and Italy to make a total of 13 units worldwide that are…
The Global LEI System – Slow but Sure
After what looked like a slow start to the summer, the initiative to establish a global standard for legal entity identifiers (LEIs) took a series of significant leaps forward during August, that appears to have put the project firmly back on track. If the marketplace felt a little reticent in June and July, it could…
Thomson Reuters Debates the Data Management Challenges of FATCA
The US Foreign Account Tax Compliance Act (FATCA) will take its toll on data management functions with most financial firms expecting know your customer (KYC) and client onboarding processes to be hit hardest by the legislation. During a webinar hosted by Thomson Reuters, participants also pointed out that FATCA is the tip of the iceberg,…
CICI Utility Cuts 18,000 pre-Legal Entity Identifiers from its Database
The CICI utility that issues CFTC Interim Compliant Identifiers (CICIs) for use in the interim global legal entity identifier (LEI) system will today remove 18,000 records from its database. These records are part of the tranche of 22,000 records that DTCC, which works with Swift as a pre-Local Operating Unit (pre-LOU) in the interim global…
LSE Details Go Live of Pre-LEI System and Expects Smooth Transition to Global LEI system
The London Stock Exchange (LSE) went live with its pre-Legal Entity Identifier (pre-LEI) system issuing Interim Entity Identifiers (IEIs) on Monday August 5. It reports significant interest in entity registration, with many draft records being created ahead of payment and submission, and one complete transaction issuing an IEI to global equity trading services firm BTIG…
The Low Down on ROC’s Rules for the Global LEI System for pre-Local Operating Units, But Gaps Remain
Development of the global legal entity identifier system (GLEIS) took a significant step forward last weekend when the Regulatory Oversight Committee (ROC) of the system published a document specifying the principles and requirements that should be followed by pre-Local Operating Units (LOUs) wanting to take part in the interim GLEIS. The document, initially scheduled for…
LSE Details Go-Live of Pre-LEI as Regulatory Oversight Committee Reviews Global LEI System
The London Stock Exchange (LSE) is planning to go live with the issue of pre-legal entity identifiers (pre-LEIs) called Interim Entity Identifiers (IEIs) on July 31, following its confirmation June 6 as a pre-Local Operating Unit (pre-LOU) under the sponsorship of the UK Financial Conduct Authority. The exchange detailed its plans this week during a…
LEI Regulatory Oversight Committee Says its Size is Slowing Short-Term Progress
The Regulatory Oversight Committee (ROC) of the Global Legal Entity Identifier System has missed the end of June deadline it set itself to provide details on the endorsement of pre-Local Operating Units (LOUs) saying that the size of the Committee has slowed down the finalisation and publication of the relevant documents. The ROC’s second plenary…
Talking Reference Data with Sarah Underwood: Data Quality and the LEI
Progress in the development of a global legal entity identifier (LEI) system, including the issue of 83,000 pre-LEIs by two active pre-Local Operating Units (LOUs), is acting as a catalyst for change with many financial institutions investing heavily to get their entity data in order. The process should prove beneficial in terms of improved data…
Dealing with Reality – How to Ensure Data Quality in the Changing Entity Identifier Landscape
“The Global LEI will be a marathon, not a sprint” is a phrase heard more than once during our series of Hot Topic webinars that’s charted the emergence of a standard identifier for entity data. Doubtless, it will be heard again. But if we’re not exactly sprinting, we are moving pretty swiftly. Every time I…