Your weekly LEI roundup with highlights from the LEI ecosystem.
In this series, we aim to bring you the latest news from the LEI ecosystem, so you can start the week one step ahead.
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RapidLEI: April’s newsletter
The last edition of our monthly newsletter went out on Friday 30th. View April’s roundup of the latest news from RapidLEI and the LEI ecosystem.
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GLEIF blog: The Seven Step Process to Becoming a Validation Agent
In the latest GLEIF blog post, Stephan Wolf (GLEIF CEO) describes the process to become a Validation Agent, a new role into the Global LEI System launched by GLEIF in 2020 that helps financial institutions to save time and costs by removing duplicate processes across onboarding and LEI issuance while enhancing their client onboarding experience.
RapidLEI fully supports the Validation initiative, find out more on our GLEIF Validation Agent solution page.
The Reg Review: More Data, More Problems
“This legislation would require the nine financial regulatory member-agencies of the U.S. Financial Stability Oversight Council to adopt and apply uniform data standards for the information collected from entities under their jurisdiction. The legislation would make U.S. financial regulators adopt a uniform legal entity identifier, such as the G-20 backed Legal Entity Identifier (LEI).”
JP Morgan’s new LEI Scheme
In an interesting move to increase the usage of LEIs within it’s client base, JP Morgan is offering identifiers for free to customers under a new scheme. According to the bank, a new program for distributing the Legal Entity Identifier could lower the cost of the code for market participants that want to sign up for one. This will particularly benefit those large organizations with multiple legal entities under their control.
You can read the full article on Waters Technology’s website (Subscription-based).
More LEI news from around the web
- FI SE: Finansinspektione Introduces New Reporting System.
- Data Coalition: Open Letter: Advancing Data Quality and Transparency in FSOC Agencies “One aspect of the standards that the Data Coalition specifically encourages is the adoption of a common legal entity identifier.”
- European Central Bank: Euro money market study 2020.
- European Central Bank: Maximising the user value of statistics: lessons from globalization and the pandemic – Speech by Philip R. Lane, Member of the Executive Board of the ECB, at the European Statistical Forum (virtual).
- Monetary Authority Singapore: Foundational Digital Infrastructures For Inclusive Digital Economies.
- Financial Times: UK financial advisers still shun ETFs, data show. Better education around ease of fulfilling LEI requirement needed in industry.
- A-Team Insight: A-Team Group Releases Entity Data Management Handbook 2021.
- Singapore Business Review: Technology is needed to reduce the trade finance gap.
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