GLEIF published Version 1.2 of the Entity Legal Forms (ELF) Code List. The new version lists more than 3,100 entity legal forms across more than 160 jurisdictions. The list contains legal forms in the native languages for companies such as the limited liability companies (Ltd), Gesellschaft mit beschränkter Haftung (GmbH), or Société Anonyme (SA). GLEIF also updated the list of current and proposed regulatory activities on the use of Legal Entity Identifier (LEI). This GLEIF list offers regulatory details, including links to domestic implementation documents, for jurisdictions where LEI is required, along with the effective date. 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.
As per the GLEIF statement, the ELF Code List is based on the ISO standard 20275 "Financial Services – ELF," which is developed by the International Organization for Standardization. Its aim is to enable legal forms within jurisdictions to be codified and thus facilitate the classification of legal entities according to their legal form. Integrating ELF codes into the standardized set of reference data on a legal entity, available within the Global LEI Index, further enhances the business card information included in each LEI record. With the implementation of Version 1.2 of the ELF Code list, the French legal forms (and the ELF Codes) will now also be used for seven French overseas territories (French Guiana, Guadeloupe, Martinique, Mayotte, Réunion, Saint Barthélemy, and Saint Martin). These jurisdictions are part of France and thus have the same legislation and legal forms.
- ELF Code List, Version 1.2 (PDF)
- Changes in ELF Version 1.2 (XLSX)
- Overview of ELF Code List
- Regulatory Use of LEI
Keywords: International, Banking, Insurance, Securities, Regulatory Activities, Reporting, ELF Code List, ISO Standard 20275, Global LEI Index, LEI, GLEIF
EBA finalized the two sets of draft regulatory technical standards on the identification of material risk-takers and on the classes of instruments used for remuneration under the Investment Firms Directive (IFD).
EC published, in the Official Journal of the European Union, a notification that the European Court of Auditors (ECA) has published a special report on resolution planning in the Single Resolution Mechanism.
BoE published a scenario against which it will be stress testing banks in 2021, in addition to setting out the key elements of the 2021 stress test, guidance on the 2021 stress test, and the variable paths for the 2021 stress test.
PRA published a consultation paper (CP3/21) proposes rules regarding the timing of identity verification required for eligibility of depositor protection under the Financial Services Compensation Scheme (FSCS).
FSB published the work program for 2021, which reflects a strategic shift in priorities in the COVID-19 environment.
FCA announced that 50% firms have started using the new data collection platform RegData, which is slated to replace the existing platform known Gabriel.
Bundesbank published Version 5.0 of the derivation rules for completeness check at the form level, with respect to the data quality of the European harmonized reporting system.
FED finalized a rule that updates capital planning requirements to reflect the new framework from 2019 that sorts large banks into categories, with requirements that are tailored to the risks of each category.
ECB published results of the quarterly lending survey conducted on 143 banks in the euro area.
ESAs published the final draft implementing technical standards on reporting of intra-group transactions and risk concentration of financial conglomerates subject to the supplementary supervision in EU.