Data Management Insight Entity Data, KYC and Client Onboarding The latest content from across the platform
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…
Recorded Webinar: Dealing with Reality – How to Ensure Data Quality in the Changing Entity Identifier Landscape
This webinar has passed, but you can view the recording here. The development of the global legal entity identifier standard has put a focus on entity and customer data. Financial institutions are struggling with a range of quality of issues. The emergence of several so-called pre-LEIs has added complexity to the situation. How are firms…
Tim Fox Moves out of Interactive Data and into Avox
Avox, the DTCC subsidiary dedicated to maintaining business entity reference data, has hired Tim Fox to the new role of product manager. Fox joins Avox from Interactive Data, where he was product marketing manager with responsibility for all aspects of the company’s Solvency II sales. He also worked with business and line management to agree…
S&P Capital IQ Builds Out Cross-Referencing Capabilities to Cover Entity Identifiers
S&P Capital IQ is addressing the need to cross reference emerging legal entity identifiers (LEIs) in a broad cross-referencing service covering over two million public and private entities that use standard and proprietary identifiers. The service is called the Business Entity Cross Reference Service and is designed to help users identify systemic and counterparty risk,…
CounterpartyLink Supports Client Data Off-Boarding to Improve Efficiency and Cut Costs
CounterpartyLink, a provider of global legal entity and counterparty data, has reversed the concept of client on-boarding with the offer of a client off-boarding service designed to help large financial institutions clean up their client databases, improve operational efficiency and reduce operating costs. The company has been working with a handful of clients to off-board…
GoldenSource Sets out LEI Store and Suggests an Entity Data Utility to Commoditise Compliance
GoldenSource is addressing the arrival of legal entity identifiers (LEIs) with its existing enterprise data management (EDM) software and the suggestion of a data utility that could commoditise compliance with regulations based on the LEI. The company has made its software LEI ready by allowing users to add LEI codes as additional or primary entity…
DTCC Plans Vendor Workgroup to Tackle Data Accuracy of the CICI and LEI
DTCC has responded to criticisms covering the accuracy and quality of CFTC Interim Compliant Identifiers (CICIs) it issues on behalf of the Commodity Futures Trading Commission (CFTC) saying data issues highlighted in a blog by data consolidator Alacra are the result of how business rules are being applied to entity registrations. Despite its defence, DTCC…
A-Team Group Webinar Reveals Significant Issues in Development of the Global LEI System
The global legal entity identifier initiative is well underway with a Regulatory Oversight Committee providing governance and pre-Local Operating Units assigning legal entity identifiers, but the ultimate success of the system depends on the as yet unformed Central Operating Unit, the quality of entity data and its ongoing maintenance. These issues and more related to…