Featured Product

    LEIROC Publishes Progress Report on GLEIS and Regulatory Uses of LEI

    May 02, 2018

    LEIROC published its second progress report on Global Legal Entity Identifier System (GLEIS) and the regulatory uses of Legal Entity Identifier (LEI). The report provides an overview of the Global LEI System, regulatory uses of the LEI, and activities of the LEI ROC. The table of LEI regulatory uses in Annex 1 of the report has also been published separately in Excel format.

    The report reveals that governance of the GLEIS is now fully in place. FSB has designed GLEIS with the contribution of private-sector participants. The number of LEIs grew rapidly in the second half of 2017 and now exceeds 1 million. Based on ECB figures, the LEI covers at least securities with a total value of EUR 95 trillion worldwide, as of November 2017 (+25% since the end of January 2017). Authorities in jurisdictions represented on the ROC have adopted at least 91 regulatory actions using the LEI, which are described in this report.

    The report suggests that regulators may require that only LEIs with current reference data be used. It also describes the strategies that standard-setters and jurisdictions may consider adopting to support LEI expansion, including the following:

    • Increase in the number of rules and regulations requiring the LEI, and in the number of jurisdiction adopting such rules
    • Adoption of the LEI as a universal identifier by some jurisdictions
    • Voluntary adoption of the LEI by market participants
    • Facilitating more widespread LEI issuance

    Keywords: International, Banking, Insurance, Securities, LEI, GLEIS, Reporting, LEIROC

    Featured Experts
    Related Articles
    News

    EBA Updates List of Validation Rules for Reporting by Banks

    EBA issued a revised list of validation rules with respect to the implementing technical standards on supervisory reporting.

    September 10, 2020 WebPage Regulatory News
    News

    EBA Responds to EC Call for Advice to Strengthen AML/CFT Framework

    EBA published its response to the call for advice of EC on ways to strengthen the EU legal framework on anti-money laundering and countering the financing of terrorism (AML/CFT).

    September 10, 2020 WebPage Regulatory News
    News

    NGFS Advocates Environmental Risk Analysis for Financial Sector

    NGFS published a paper on the overview of environmental risk analysis by financial institutions and an occasional paper on the case studies on environmental risk analysis methodologies.

    September 10, 2020 WebPage Regulatory News
    News

    MAS Issues Guidelines to Promote Senior Management Accountability

    MAS published the guidelines on individual accountability and conduct at financial institutions.

    September 10, 2020 WebPage Regulatory News
    News

    APRA Formalizes Capital Treatment and Reporting of COVID-19 Loans

    APRA published final versions of the prudential standard APS 220 on credit quality and the reporting standard ARS 923.2 on repayment deferrals.

    September 09, 2020 WebPage Regulatory News
    News

    SRB Chair Discusses Path to Harmonized Liquidation Regime for Banks

    SRB published two articles, with one article discussing the framework in place to safeguard financial stability amid crisis and the other article outlining the path to a harmonized and predictable liquidation regime.

    September 09, 2020 WebPage Regulatory News
    News

    FSB Workshop Discusses Preliminary Findings of Too-Big-To-Fail Reforms

    FSB hosted a virtual workshop as part of the consultation process for its evaluation of the too-big-to-fail reforms.

    September 09, 2020 WebPage Regulatory News
    News

    ECB Updates List of Supervised Entities in EU in September 2020

    ECB updated the list of supervised entities in EU, with the number of significant supervised entities being 115.

    September 08, 2020 WebPage Regulatory News
    News

    OSFI Identifies Focus Areas to Strengthen Third-Party Risk Management

    OSFI published the key findings of a study on third-party risk management.

    September 08, 2020 WebPage Regulatory News
    News

    FSB Extends Implementation Timeline for Framework on SFTs

    FSB is extending the implementation timeline, by one year, for the minimum haircut standards for non-centrally cleared securities financing transactions or SFTs.

    September 07, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 5796