GLEIF Issues List of Regulatory Activities on LEI Use & Other Updates
The Global Legal Entity Identifier Foundation (GLEIF) updated the list of current and proposed regulatory activities on the use of Legal Entity Identifier (LEI) and announced other relevant developments related to LEI.
Below are key details of the recent announcements:
- GLEIF announced that a newly published ISO standard, ISO 5009, has the potential to extend the utility and value of LEI-based digital identity tools, by facilitating inclusion of "official organizational role" detail within them, in a consistent manner. ISO 5009 paves the way for these tools—such as verifiable LEI (vLEI) credentials and digital certificates with embedded LEIs—to become a universally trusted method of digitally confirming the authenticity of people authorized to act on behalf of an organization.
- GLEIF announced that Rubix Data Sciences (Rubix) has become the first Indian-based Validation Agent within the Global LEI System. Rubix is the provider of a leading business-to-business risk management and monitoring platform to the Indian market. It will work as a Validation Agent of Legal Entity Identifier India Ltd. (LEIL), which is a GLEIF-accredited LEI issuer and a wholly owned subsidiary of the Clearing Corporation of India Ltd.
- GLEIF published version 1.7 of the Registration Authorities List, which, for the first time, standardizes the cross reference provided by the legal entity to its local authoritative source. With this list, GLEIF enables users of the LEI data to more easily link the LEI to other data sources. GLEIF will monitor compliance of LEI issuers with the Registration Authorities List. After publication of each new version of the Registration Authorities List, the LEI issuers are required to implement all changes within a limited time frame.
Related Links
- List of Regulatory Activities
- Notification on New ISO Standard
- Notification on Rubix
- Notification on Registration Authorities List
Keywords: International, Banking, Insurance, Securities, Basel, Data Quality Report, Regulatory Activities, LEI, ISO 5009, VLEI, Rubix, Registration Authorities, GLEIF
Featured Experts
María Cañamero
Skilled market researcher; growth strategist; successful go-to-market campaign developer
Nicolas Degruson
Works with financial institutions, regulatory experts, business analysts, product managers, and software engineers to drive regulatory solutions across the globe.
Patrycja Oleksza
Applies proficiency and knowledge to regulatory capital and reporting analysis and coordinates business and product strategies in the banking technology area
Previous Article
FI Updates Reporting Documentation for Banks and Investment FirmsRelated Articles
BIS and Central Banks Experiment with GenAI to Assess Climate Risks
A recent report from the Bank for International Settlements (BIS) Innovation Hub details Project Gaia, a collaboration between the BIS Innovation Hub Eurosystem Center and certain central banks in Europe
Nearly 25% G-SIBs Commit to Adopting TNFD Nature-Related Disclosures
Nature-related risks are increasing in severity and frequency, affecting businesses, capital providers, financial systems, and economies.
Singapore to Mandate Climate Disclosures from FY2025
Singapore recently took a significant step toward turning climate ambition into action, with the introduction of mandatory climate-related disclosures for listed and large non-listed companies
SEC Finalizes Climate-Related Disclosures Rule
The U.S. Securities and Exchange Commission (SEC) has finalized the long-awaited rule that mandates climate-related disclosures for domestic and foreign publicly listed companies in the U.S.
EBA Proposes Standards Related to Standardized Credit Risk Approach
The European Banking Authority (EBA) has been taking significant steps toward implementing the Basel III framework and strengthening the regulatory framework for credit institutions in the EU
US Regulators Release Stress Test Scenarios for Banks
The U.S. regulators recently released baseline and severely adverse scenarios, along with other details, for stress testing the banks in 2024. The relevant U.S. banking regulators are the Federal Reserve Bank (FED), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC).
Asian Governments Aim for Interoperability in AI Governance Frameworks
The regulatory landscape for artificial intelligence (AI), including the generative kind, is evolving rapidly, with governments and regulators aiming to address the challenges and opportunities presented by this transformative technology.
EBA Proposes Operational Risk Standards Under Final Basel III Package
The European Union (EU) has been working on the final elements of Basel III standards, with endorsement of the Banking Package and the publication of the European Banking Authority (EBA) roadmap on Basel III implementation in December 2023.
EFRAG Proposes XBRL Taxonomy and Standard for Listed SMEs Under ESRS
The European Financial Reporting Advisory Group (EFRAG), which plays a crucial role in shaping corporate reporting standards in European Union (EU), is seeking comments, until May 21, 2024, on the Exposure Draft ESRS for listed SMEs.
ECB to Expand Climate Change Work in 2024-2025
Banking regulators worldwide are increasingly focusing on addressing, monitoring, and supervising the institutions' exposure to climate and environmental risks.
