Featured Product

    LEI ROC Publishes Policy on Fund Relationships in Global LEI System

    May 20, 2019

    LEI ROC published its final policy on fund relationships in the Global Legal Entity Identifier System (GLEIS), along with guidelines for the registration of investment funds in the GLEIS. The report provides definitions of relationships affecting investment funds or collective investment schemes ("Fund Management Entity," "Umbrella Fund," and "Master-Feeder") and specifies when reporting these relationships would be optional. Implementation is expected within eighteen months of the publication of this policy.

    The eighteen months are needed for the implementation, given the need for GLEIF to prepare the technical standards in consultation with the Local Operating Units (LOUs), for LOUs to implement them and provide sufficient guidance to registrants ahead of implementation. The policy report explains the objectives of the data collection and details why the rules of GLEIS should require a fund to report the LEI as opposed to only the name of the related entity. It also explains why, following the public consultation, the continuation of an optional approach has been adopted by LEI ROC, with some exceptions. The policy describes how these relationships should be verified, lists issues to consider when representing fund relationships in the GLEIS, and discusses the future work on other fund relationships.

    The report offers a limited update to the way relationships affecting investment funds are recorded in GLEIS, with the aim to ensure that the implementation of relationship data is consistent throughout the GLEIS and to provide a way to facilitate the standardized collection of fund-relationship information at the global level. This is being done by providing definition for fund relationship and aligning the data structure with what is done for direct and ultimate accounting parent entities as defined in LEI ROC report of March 2016. The report asks GLEIF to replace the current optional reporting of a single “fund family” relationship as part of Level 1 (reference data of the entity) with certain relationships as part of “Level 2” data (relationship data). In line with responses to the first consultation, LEI ROC adopted eliminating the proposed generic category “Other Fund Family” (except for past records) and not including any additional relationships at this stage. LEI ROC adopted that the collection of these relationships in the GLEIS will be optional, except

    • If the relationship is mandated to be reported and publicly available in the relevant jurisdiction and if the LEI is mandatory for the related entity in the relevant jurisdiction
    • For the relationship between an umbrella structure and a sub-fund or compartment or other sub-structure

     

    Effective Date: Policy Report+18 Months

    Keywords: International, Banking, Securities, Fund Relationships, GLEIS, GLEIF, LEI, LEIROC

    Related Articles
    News

    HKMA Sets Out Regulatory Treatment for Personal Loan Guarantee Scheme

    HKMA has published a circular that sets out the regulatory and reporting treatment for loans that participating authorized institutions may grant to eligible borrowers under the 100% Personal Loan Guarantee Scheme.

    April 20, 2021 WebPage Regulatory News
    News

    ECB Completes Targeted Review of Internal Models of Banks

    ECB published the results of the assessment of internal models that banks use to calculate risk-weighted assets for credit, market, and counterparty credit risks.

    April 19, 2021 WebPage Regulatory News
    News

    PRA on Regulatory Treatment of Loans Under Mortgage Guarantee Scheme

    PRA published a statement on the regulatory treatment of retail residential mortgage loans under the Mortgage Guarantee Scheme, or MGS.

    April 19, 2021 WebPage Regulatory News
    News

    FCA Consults on Rules and Reporting Forms for Investment Firms Regime

    FCA is consulting, via CP21/7, on the second phase of proposed rules to introduce the UK Investment Firm Prudential Regime (IFPR).

    April 19, 2021 WebPage Regulatory News
    News

    HMT and BoE Decide to Explore Central Bank Digital Currency in UK

    HM Treasury and BoE announced the joint creation of a Central Bank Digital Currency (CBDC) Taskforce to coordinate the exploration of a potential central bank digital currency in UK.

    April 19, 2021 WebPage Regulatory News
    News

    EIOPA Sets Out Expectations on Use of Climate Risk Scenarios in ORSA

    EIOPA published an opinion to set out its expectations on the supervision of the integration of climate change risk scenarios by insurers in their Own Risk and Solvency Assessment (ORSA).

    April 19, 2021 WebPage Regulatory News
    News

    Bundesbank Updates AnaCredit Reporting Requirements

    Bundesbank published two circulars on AnaCredit reporting requirements. Circular 27/2021 covers changes to the reporting of branches, additional attributes to be reported for investment funds from August 01, 2021, and updates to the list of international organizations.

    April 16, 2021 WebPage Regulatory News
    News

    EC Sets Out Standards for MREL Reporting by Competent Authorities

    EC published the Implementing Regulation 2021/622 that lays down implementing technical standards for reporting of the minimum requirement for own funds and eligible liabilities (MREL).

    April 16, 2021 WebPage Regulatory News
    News

    BCBS to Advance Work on Suptech, Climate Risk, and Basel Monitoring

    BCBS has set out the strategic work priorities, as part of its the work program for 2021-22.

    April 16, 2021 WebPage Regulatory News
    News

    PRA Finalizes Supervisory Approach for Non-Systemic Banks in UK

    PRA published the policy statement PS8/21, which contains the final supervisory statement SS3/21 on the PRA approach to supervision of the new and growing non-systemic banks in UK.

    April 15, 2021 WebPage Regulatory News
    RESULTS 1 - 10 OF 6874