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.
Keywords: International, Banking, Insurance, Securities, Reporting, Data Collection, Common Data File, vLEI, Verifiable LEI, Governance Framework, LEI, GLEIF
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.
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