December has been a special month for LEIs, Legal Entity Identifiers, on the Ubisecure Let’s talk about digital identity podcast. This month has featured not one, but two episodes around LEIs with exciting guests, Clare Rowley, GLEIF, Chris Southworth, ICC United Kingdom, and Oswald Kuyler, MonetaGo. These episodes cover the history of business identities and the creation of the LEI featuring the Global LEI Foundation (GLEIF), as well as all about the recent Electronic Trade Documents Bill featuring the International Chamber of Commerce (ICC) and partner MonetaGo.
LEI and History of Identities – Episode 81
Clare Rowley, Head of Business Operations at the GLEIF joins podcast host Oscar, in one of our ‘Identity Stories’ series.
While Oscar explores the history of identities for businesses – when business identities started and what companies used before the LEI. Clare covers the reason behind the creation of the LEI. Revealing how the 2008-2009 financial crash was a key player in the importance of the LEI and the construction of the governance structure designed by the Financial Stability Board to identify legal entities. Which lead to the creation of the three layers of the governance structure and the LEI. Which is the Regulatory Oversight Committee, Global LEI Foundation, the GLEIF, and LEI issuers – set up to be an inclusive system to gain input from all sectors, both public and private. Clare then goes on to discuss how the LEI was introduced and the adoption of the LEI, which was encouraged by being compliant to upcoming regulations.
Oscar and Clare also discuss the future of the LEI and what affects the current economic uncertainty has had. Including what new challenges are being faced and how the GLEIF and the LEI are evolving to respond to these challenges.
Electronic Trade Documents Bill – Episode 82
Chris Southworth Secretary General at the ICC United Kingdom and Oswald Kuyler Global Head of Strategy at MonetaGo joined our podcast for episode 82, to talk about the Electronic Trade Documents Bill, which is currently going through the UK parliament, on a fast-track with hopes for the bill to come into force mid-2023.
The Electronic Trade Documents Bill is a piece of law which will bring digital documentation onto the same legal footing as paper documents – this will help trade to become more efficient, allowing transactions to happen in real time.
Oswald and Chris provide great insights into the aims and benefits of the Electronic Trade Documents Bill and expected adoption both in the UK and globally to improve trade processes in all markets. And how the LEI model can also help speed up and improve these systems. They also explore what they think business leaders, for big and small companies, should be looking to implement to benefit their systems and processes. Including businesses having their LEI and sharing across the organisation to utilise the benefits.
Join the conversation
If you want to talk further about LEIs or the Electronic Trade Documents Bill, please contact the RapidLEI team. Or find Clare, Chris and Oswald on LinkedIn. To find other podcast episodes and videos around LEIs take a look at Legal Entity Identifiers (LEI) Playlist.
All our podcast episodes are also available on Apple, Google, Spotify or whether you listen to your podcasts. If you have anything you’d like to add to the conversation around LEIs or would like to join us for an episode of the Let’s talk about digital identity podcast then send over a your comments and suggestions.