GLEIF Issues Updates on vLEI Governance Framework and CDF Formats
The Global Legal Entity Identifier Foundation (GLEIF) published the verifiable Legal entity identifier (vLEI) Ecosystem Governance Framework and issued other relevant announcements.
GLEIF announced the publication of its verifiable LEI (vLEI) Ecosystem Governance Framework. The vLEI Ecosystem Governance Framework, which has been designed from the ground up to complement GLEIF’s existing LEI governance, defines the vLEI operational model and describes how the new ecosystem’s range of vLEI issuing stakeholders will qualify for and perform their roles in the Global LEI System. Additionally, GLEIF reminded the public users of LEI data that, from March 01, 2022, all GLEIF services will accept and display data in updated Common Data File (CDF) formats, requiring users to implement these new file formats ahead of that deadline for uninterrupted access to LEI data. The updated file formats will increase the level of open, standardized, and high-quality legal entity reference data available within the Global LEI Index.
Throughout the month of March, all LEI issuing organizations will migrate to the new formats and undergo testing to ensure a smooth transition. Users of the Global LEI System should, therefore, be prepared to support content following the existing and new business rules throughout March when performing LEI data analysis. This applies to users of the following LEI data: GLEIF Concatenated files, Golden Copy and Delta files, and Golden Copy files accessed via the GLEIF API. GLEIF has made many supporting resources available on its website, including technical details, example files and a guiding document for the transition period from March 01 to 31, 2022. After March 31, 2022, GLEIF anticipates a period of up to one year before the Global LEI System will be fully populated with information on Legal Entity Events, Fund Relationships, and Government Entities. Data is generally collected at the time of new LEI issuance or existing LEI renewal.
Related Links
Keywords: International, Banking, Insurance, Securities, Reporting, Data Collection, Common Data File, vLEI, Verifiable LEI, Governance Framework, LEI, GLEIF
Featured Experts
María Cañamero
Skilled market researcher; growth strategist; successful go-to-market campaign developer
Nicolas Degruson
Works with financial institutions, regulatory experts, business analysts, product managers, and software engineers to drive regulatory solutions across the globe.
Scott Dietz
Scott is a Director in the Regulatory and Accounting Solutions team responsible for providing accounting expertise across solutions, products, and services offered by Moody’s Analytics in the US. He has over 15 years of experience leading auditing, consulting and accounting policy initiatives for financial institutions.
Previous Article
FSB Outlines Upcoming Work Deliverables, Assesses Crypto-Asset RisksRelated Articles
BIS and Central Banks Experiment with GenAI to Assess Climate Risks
A recent report from the Bank for International Settlements (BIS) Innovation Hub details Project Gaia, a collaboration between the BIS Innovation Hub Eurosystem Center and certain central banks in Europe
Nearly 25% G-SIBs Commit to Adopting TNFD Nature-Related Disclosures
Nature-related risks are increasing in severity and frequency, affecting businesses, capital providers, financial systems, and economies.
Singapore to Mandate Climate Disclosures from FY2025
Singapore recently took a significant step toward turning climate ambition into action, with the introduction of mandatory climate-related disclosures for listed and large non-listed companies
SEC Finalizes Climate-Related Disclosures Rule
The U.S. Securities and Exchange Commission (SEC) has finalized the long-awaited rule that mandates climate-related disclosures for domestic and foreign publicly listed companies in the U.S.
EBA Proposes Standards Related to Standardized Credit Risk Approach
The European Banking Authority (EBA) has been taking significant steps toward implementing the Basel III framework and strengthening the regulatory framework for credit institutions in the EU
US Regulators Release Stress Test Scenarios for Banks
The U.S. regulators recently released baseline and severely adverse scenarios, along with other details, for stress testing the banks in 2024. The relevant U.S. banking regulators are the Federal Reserve Bank (FED), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC).
Asian Governments Aim for Interoperability in AI Governance Frameworks
The regulatory landscape for artificial intelligence (AI), including the generative kind, is evolving rapidly, with governments and regulators aiming to address the challenges and opportunities presented by this transformative technology.
EBA Proposes Operational Risk Standards Under Final Basel III Package
The European Union (EU) has been working on the final elements of Basel III standards, with endorsement of the Banking Package and the publication of the European Banking Authority (EBA) roadmap on Basel III implementation in December 2023.
EFRAG Proposes XBRL Taxonomy and Standard for Listed SMEs Under ESRS
The European Financial Reporting Advisory Group (EFRAG), which plays a crucial role in shaping corporate reporting standards in European Union (EU), is seeking comments, until May 21, 2024, on the Exposure Draft ESRS for listed SMEs.
ECB to Expand Climate Change Work in 2024-2025
Banking regulators worldwide are increasingly focusing on addressing, monitoring, and supervising the institutions' exposure to climate and environmental risks.
