GLEIF Publishes Version 1.1 of Entity Legal Forms Code List
GLEIF published Version 1.1 of the Entity Legal Forms (ELF) Code List, which now lists more than 2,100 entity legal forms across more than 90 jurisdictions. The list contains legal forms in their native language for entities such as limited liability companies (Ltd), Gesellschaft mit beschränkter Haftung (GmbH), or Société Anonyme (SA). The ELF Code List assigns a unique code to each entity legal form. The ELF code is an alpha-numeric code of four characters from the basic Latin character set.
The ELF Code List is based on the ISO standard 20275 “Financial Services –ELF,” developed by the International Organization for Standardization. Its aim is to enable legal forms within jurisdictions to be codified and thus facilitate the classification of legal entities according to their legal form. Integrating ELF codes into the standardized set of reference data on a legal entity, which is available within the Global LEI Index, further enhances the business card information included in each Legal Entity Identifier (LEI) record.
Going forward, the organizations issuing LEI will reference the ELF code in their LEI issuance processes and reporting. The LEI-Common Data File (CDF) format defines how LEI issuing organizations report their LEI and Level 1 reference data—that is, the business card information on a legal entity. The structure for the ELF code has been incorporated into the LEI-CDF format version 2.1. GLEIF will monitor compliance of LEI issuers with the ELF Code List subject to an ELF code being available for a specific legal entity form in a jurisdiction. Since March 01, 2018, all newly issued LEIs must indicate the applicable ELF code, if available.
Related Links
- Notification
- ELF Code List, Version 1.1 (PDF)
- Changes in ELF Version 1.1 Compared to Version 1.0 (XLSX)
Keywords: International, Banking, Insurance, Securities, LEI, ELF Code List, ISO Standard 20275, Global LEI Index, 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.
Paul McCarney
Insurance product strategist; insurance domain expert; extensive experience developing risk assessment frameworks for insurers
Previous Article
EC Publishes Legislative Package in Preparation for BrexitRelated 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.