GLEIF announced that financial institutions worldwide can realize a variety of cost, efficiency, and customer experience benefits by assuming a new “validation agent” role within the Global Legal Entity Identifier (LEI) System. Financial institutions acting as validation agents simplify LEI issuance for their clients, reduce time-to-revenue, and future-proof their institutions for digital innovation. The Validation Agent Framework is a new operational model in the Global LEI System. Validation agents can now obtain LEI for their customers when verifying the identity of a client during initial onboarding or during a standard client refresh update.
In addition, GLEIF published the latest quarterly Global LEI System business report and the monthly global LEI data quality report. GLEIF also updated the list of current and proposed regulatory activities, including activities on the use of LEI. This GLEIF list offers details, including links to domestic implementation documents, for jurisdictions where LEI is required, along with the effective date. Finally, GLEIF published an article that explains the benefits embedded in the digital financial reporting using the European Single Electronic Format (ESEF).
- Notification on Validation Agent Role
- Notification on GLEIS Business Report
- Notification on Data Quality Report
- List of Regulatory Activities
- Article on ESEF Digital Financial Reporting
Keywords: International, Banking, Insurance, Securities, Reporting, Regulatory Activities, Data Quality Report, Validation Agent, GLEIS, LEI, ESEF, GLEIF
Previous ArticleFDIC Selects Technology Companies for Rapid Prototyping Competition
The Hong Kong Monetary Authority (HKMA) revised the Supervisory Policy Manual module CG-5 that sets out guidelines on a sound remuneration system for authorized institutions.
The European Banking Authority (EBA) published the final guidelines on the monitoring of the threshold and other procedural aspects on the establishment of intermediate parent undertakings in European Union (EU), as laid down in the Capital Requirements Directive (CRD).
In a recent Market Notice, the Bank of England (BoE) confirmed that green gilts will have equivalent eligibility to existing gilts in its market operations.
The Financial Conduct Authority (FCA) published the policy statement PS21/9 on implementation of the Investment Firms Prudential Regime.
The European Banking Authority (EBA) proposed regulatory technical standards that set out criteria for identifying shadow banking entities for the purpose of reporting large exposures.
The Board of the International Organization of Securities Commissions (IOSCO) proposed a set of recommendations on the environmental, social, and governance (ESG) ratings and data providers.
The European Securities and Markets Authority (ESMA) published recommendations from the Working Group on Euro Risk-Free Rates (RFR) on the switch to risk-free rates in the interdealer market.
The European Central Bank (ECB) published a paper as well as an article in the July Macroprudential Bulletin, both of which offer insights on the assessment of the impact of Basel III finalization package on the euro area.
The International Swaps and Derivatives Association (ISDA) published a paper that explores the impact of the Fundamental Review of the Trading Book (FRTB) on the trading of carbon certificates.
The Prudential Regulation Authority (PRA) published the remuneration policy self-assessment templates and tables on strengthening accountability.