The Global Legal Entity Identifier Foundation (GLEIF) updated the list of current and proposed regulatory activities with respect to the use of Legal Entity Identifier (LEI). The list leads to domestic implementation documents for jurisdictions that require LEI and indicates the effective date of the respective regulatory requirements. Meanwhile, as organization prepare to embed their LEI in financial reports in line with the new European Single Electronic Format (ESEF) requirements, GLEIF is urging them to go beyond compliance requirements and include LEI within the electronic signatures of signing officers, to maximize trust in document authenticity and integrity. GLEIF has demonstrated how simple it is to use and benefit from this feature, by embedding its own LEI in the signing officers’ digital signatures within its newly published 2020 annual report.
The ESEF’s mandatory inclusion of LEI within financial reports automatically links the filing entity to its annually verified LEI reference data—such as name, registered address, and corporate ownership structure—held within the Global LEI Index, which is free to access online. This empowers market participants who rely on official documents to inform strategic decisions (for example, traders, investors, regulators) to quickly and easily consolidate and verify information on a filing entity. There are numerous macro-level market advantages of LEI inclusion within financial reports. These include greater end user trust in the authenticity of financial information, automated access to aggregated data on the filing entity, increased transparency on an entity’s ownership structure, and an enhanced ability for regulators to minimize market abuse. Beyond the European Union-wide mandate of the European Securities and Markets Agency (ESMA), the European Central Bank (ECB) has also recognized the benefits of extending LEI use to cover all future public reporting and financial transactions. Consequently, the European Systemic Risk Board has recommended the establishment of an EU legislative framework for greater adoption of LEIs across the European Union. One objective of the recommendation is to ensure the systematic and comprehensive use of the LEI for identification of entities in the reporting of financial information.
Keywords: International, Banking, Insurance, Securities, Reporting, Regulatory Activities, LEI, GLEIS, ESEF, Annual Report, ECB, ESRB, GLEIF
The European Banking Authority (EBA) published the final draft regulatory technical standards specifying and, where relevant, calibrating the minimum performance-related triggers for simple.
The European Central Bank (ECB) is undertaking the integrated reporting framework (IReF) project to integrate statistical requirements for banks into a standardized reporting framework that would be applicable across the euro area and adopted by authorities in other EU member states.
The European Banking Authority (EBA) has been awarded the top European Standard for its environmental performance under the European Eco-Management and Audit Scheme (EMAS).
The Monetary Authority of Singapore (MAS) set out the Financial Services Industry Transformation Map 2025 and, in collaboration with the SGX Group, launched ESGenome.
The Basel Committee on Banking Supervision met, shortly after a gathering of the Group of Central Bank Governors and Heads of Supervision (GHOS), the oversight body of BCBS.
The International Organization of Securities Commissions (IOSCO) welcomed the work of the international audit and assurance standard setters—the International Auditing and Assurance Standards Board (IAASB)
The Bank of England (BoE) published a Statistical Notice (2022/18), which informs that due to the Bank Holiday granted for Her Majesty Queen Elizabeth II’s State Funeral on Monday September 19, 2022.
The French Prudential Control and Resolution Authority (ACPR) announced that the European Banking Authority (EBA) has updated its filing rules and the implementation dates for certain modules of the EBA reporting framework 3.2.
The European Central Bank (ECB) published a paper that examines how credit rating agencies accepted by the Eurosystem, as part of the Eurosystem Credit Assessment Framework (ECAF)
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