ESMA published a Briefing on the Legal Entity Identifier (LEI). The briefing describes LEI, explains which EU regulations and directives require its use, who can apply for it, and why it is important. The briefing also describes LEI requirements under MiFIR.
The briefing is a part of ESMA’s efforts to raise industry awareness and facilitate compliance with the LEI requirements under MiFID II, ahead of its January 03, 2018 launch. ESMA expects market participants to take all necessary steps to ensure full compliance with the LEI requirements under MiFID II. Based on its previous experience with EMIR reporting, ESMA urges reporting entities not to delay in addressing this important matter, as advance preparation will help avoid backlogs and ensure that all market participants are ready for the new regime.
Related Link: LEI Briefing (PDF)
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