GLEIF Publishes January 2019 Update on Global Regulatory Use of LEI
GLEIF updated the list of current and proposed regulatory activities on the adoption of Legal Entity Identifier (LEI), including the use of LEI. It is the prerogative of the authorities acting in individual jurisdictions to mandate the use of LEIs. GLEIF closely monitors initiatives relevant to legal entity identification in regulatory reporting and supervision and updates this list regularly.
Following the financial crisis, the goal of the drivers of the LEI initiative—the G20, FSB, and many regulators worldwide—was to use the LEI to create transparency in the derivatives markets. As demonstrated with the current LEI population, these efforts have generated excellent results. In many jurisdictions worldwide, public authorities rely on the LEI to evaluate risk, take corrective steps, minimize market abuse (if required), and improve the accuracy of financial data.
Related Link: Regulatory Use of the LEI
Keywords: International, Banking, Securities, Insurance, LEI, LEI Adoption, GLEIF
Previous Article
EBA Single Rulebook Q&A: Fourth Update for February 2019Related Articles
BIS Report Notes Existing Gaps in Climate Risk Data at Central Banks
A Consultative Group on Risk Management (CGRM) at the Bank for International Settlements (BIS) published a report that examines incorporation of climate risks into the international reserve management framework.
EBA Examines Remuneration Data and Use of Large Exposure Exemptions
The European Banking Authority (EBA) published a report that examines the use of certain exemptions included in the large exposures regime under the Capital Requirements Regulation (CRR).
BoE Issues Update on Ongoing Data Transformation Program
The Bank of England (BoE) issued a communication to firms to provide an update on the progress of the joint data transformation program—which is being led by BoE, the Financial Conduct Authority (FCA), and the industry—for the financial sector in UK.
EBA Issues Draft Methodology and Templates for 2023 Stress Tests
The European Banking Authority (EBA) published the draft methodology, templates, and template guidance for the European Union-wide stress test in 2023.
EBA Issues SREP Guidelines and Standards for Investment Firms
The European Banking Authority (EBA) and the European Securities and Markets Authority (ESMA) jointly published the final guidelines on common procedures and methodologies for the supervisory review and evaluation process (SREP) for investment firms.
BoE and PRA Publish Regulatory Updates for Financial Sector Entities
The Prudential Regulatory Authority (PRA) proposed expectations, via CP8/22, in respect of changes to the instruments or claims that comprise unvested deferred sums awarded to material risk-takers as part of their variable pay.
EIOPA Issues Taxonomy for Solvency II Reporting, Issues Other Updates
The European Insurance and Occupational Pensions Authority (EIOPA) published Version 2.7.0 of the Solvency II data point model (DPM) and XBRL taxonomy.
OSFI Updates Address BCAR Reporting, Basel Reforms, and Cyber Risk
The Office of the Superintendent of Financial Institutions (OSFI) updated the 2023 Basel Capital Adequacy Reporting (BCAR) manual as well as the 2023 BCAR return.
FSB Report Outlines Progress on Climate Risk Roadmap
In a letter to the G20 Leaders, ahead of the July 2022 meeting, the Financial Stability Board (FSB) Chair set out an overview of the key work done by FSB.
SRB Issues Resolvability Assessment and Bail-in Implementation Guide
The Single Resolution Board (SRB) published its resolvability assessment and "heat map" for 2021, updated the operational guidance on implementation of bail-in tool, and issued the annual report for 2021.