Data Management Insight Entity Data, KYC and Client Onboarding The latest content from across the platform
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…
EMIR Reporting Continues to Pose Data Management Challenge
The reporting requirements of European Market Infrastructure Regulation (EMIR) continue to challenge financial institutions six months after they came into force and ahead of regulatory intent to fine firms that fail to report correctly under the regulation. Industry estimates suggest that, to date, only 1% of trades have been correctly matched under EMIR due to…
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…
Atlas ATS Deploys Strevus Compliance Solution to Support Digital Currency Exchange
Atlas ATS, a New York based cryptocurrency trading exchange, has deployed a Strevus hosted solution to ensure that its institutional customers achieve Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance as required under the US Bank Secrecy Act. The exchange is up and running with the Strevus compliance lifecycle management solution in New York…
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…
Putting the LEI into Practice
Hundreds of thousands of pre-Legal Entity Identifiers (LEIs) have been issued by pre-Local Operating Units (LOUs) in the Global LEI System (GLEIS), and the standard entity identifier has been mandated for use by regulators in both the US and Europe. As more pre-LEIs are issued ahead of the establishment of the global systems’ Central Operating…
Markit Develops Managed Services With CTI Acquisition
Markit’s agreement to acquire tax compliance and reporting services specialist Compliance Technologies International (CTI) will add a tax component to the company’s managed regulatory reporting services that already include the Counterparty Manager platform and the recently introduced Markit | Genpact Know-Your-Customer (KYC) Services. Financial details of the acquisition have not been disclosed and the transaction…
Opinion: Uniting Entity Data – the Missed Opportunity
By Neill Vanlint, Managing Director, EMEA & Asia, Goldensource The industry’s drive to understand and reduce systemic risk has created fresh challenges around instrument and entity data that put technology under a whole new light. However, in a post-2008 crisis landscape dominated by regulatory reform, compliance is only part of the issue. If firms can…
Have you figured out a single view of customer data yet?
Are you feeling the pressure from regulators to sort out your entity data but are frustrated knowing that the promised LEI solution is far from ready? What can you do in the meantime? Some financial institutions are meeting the regulatory requirements by establishing a single client view by cross-referencing data sources to help them achieve their entity data management…