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
PRA published a statement that explains when to expect further information on the PRA approach to transposing the Capital Requirements Directive (CRD5), including its approach to revisions to the definition of capital for Pillar 2A.
SRB published the work program for 2021-2023, setting out a roadmap to further operationalize the Single Resolution Fund and to achieve robust resolvability of banks under its remit over the next three years.
EIOPA is consulting on the relevant ratios to be mandatorily disclosed by insurers and reinsurers falling within the scope of the Non-Financial Reporting Directive as well as on the methodologies to build these ratios.
HM Treasury extended the consultation period on Phase II of the Future Regulatory Framework (FRF) Review, from January 19, 2021 to February 19, 2021.
The Group of Central Bank Governors and Heads of Supervision (GHOS), the oversight body of BCBS, endorsed a coordinated approach to mitigate COVID-19 risks to the global banking system.
US Agencies (FDIC, FED, and OCC) issued a joint statement encouraging banks to cease entering into new contracts that use USD LIBOR as a reference rate as soon as practicable and in any event by December 31, 2021, to facilitate an orderly LIBOR transition.
ECB finalized guidance on the way it expects banks to prudently manage and transparently disclose climate and other environmental risks under the current prudential rules.
BCBS published a technical amendment to the capital treatment of securitizations of non-performing loans by banks.
PRA published the policy statement PS23/20 on the calculation of stressed value at risk (sVAR) and risks not in value at risk (RNIV) under the market risk framework.
BoE announced that the Data and Statistics Division is planning to move collection of statistical data to the BoE Electronic Data Submission (BEEDS) portal.