LEI ROC published a statement on a free-of-charge certification process established by GLEIF—the GLEIF Certification of LEI Mapping service. This certification process provides a robust framework that enables third-party stakeholders to accurately connect their own unique identifiers to the LEI. Since the LEI is endorsed via many regulations worldwide, LEI mapping enables regulatory authorities to leverage third-party vendor products to monitor compliance and financial industry participants to comply with the associated rulemaking, particularly for cross-border reporting.
The Certification of Mapping service also supports integrity of the Global LEI System, by ensuring that quality controls associated with mapping identifiers to the LEI meet or exceed the requirements defined by GLEIF. The GLEIF Certification of LEI Mapping service has untapped potential to deliver widespread benefits to data vendors and many other organizations. Certification, and the subsequent publication by GLEIF of publicly available, open source relationship files that match identifiers against corresponding LEIs, eases the process of gathering, aggregating, and reconciling counterparty information. This can be useful for many purposes such as client relationship management and due diligence. GLEIF continues to drive innovation in this area. LEI ROC strongly encourages all third-party data vendors to engage with GLEIF and the GLEIF Certification of LEI Mapping service.
Keywords: International, Banking, Insurance, Securities, LEI Mapping, LEI, GLEIF, LEIROC
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BCBS is consulting on the principles for operational resilience and the revisions to the principles for sound management of operational risk for banks.
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