LEI ROC published a statement on a free-of-charge certification process established by GLEIF—the GLEIF Certification of LEI Mapping service. This certification process provides a robust framework that enables third-party stakeholders to accurately connect their own unique identifiers to the LEI. Since the LEI is endorsed via many regulations worldwide, LEI mapping enables regulatory authorities to leverage third-party vendor products to monitor compliance and financial industry participants to comply with the associated rulemaking, particularly for cross-border reporting.
The Certification of Mapping service also supports integrity of the Global LEI System, by ensuring that quality controls associated with mapping identifiers to the LEI meet or exceed the requirements defined by GLEIF. The GLEIF Certification of LEI Mapping service has untapped potential to deliver widespread benefits to data vendors and many other organizations. Certification, and the subsequent publication by GLEIF of publicly available, open source relationship files that match identifiers against corresponding LEIs, eases the process of gathering, aggregating, and reconciling counterparty information. This can be useful for many purposes such as client relationship management and due diligence. GLEIF continues to drive innovation in this area. LEI ROC strongly encourages all third-party data vendors to engage with GLEIF and the GLEIF Certification of LEI Mapping service.
Keywords: International, Banking, Insurance, Securities, LEI Mapping, LEI, GLEIF, LEIROC
Previous ArticleCBIRC Publishes Interim Measures for Financial Leasing Companies
Next ArticleIOSCO Board Elects Leadership for the 2020-2022 Term
The use cases of generative AI in the banking sector are evolving fast, with many institutions adopting the technology to enhance customer service and operational efficiency.
As part of the increasing regulatory focus on operational resilience, cyber risk stress testing is also becoming a crucial aspect of ensuring bank resilience in the face of cyber threats.
A few years down the road from the last global financial crisis, regulators are still issuing rules and monitoring banks to ensure that they comply with the regulations.
The European Commission (EC) recently issued an update informing that the European Council and the Parliament have endorsed the Banking Package implementing the final elements of Basel III standards
The Swiss Federal Council recently decided to further develop the Swiss Climate Scores, which it had first launched in June 2022.
The Basel Committee on Banking Supervision (BCBS) launched consultation on a Pillar 3 disclosure framework for climate-related financial risks, with the comment period ending on February 29, 2024.
The U.S. President Joe Biden signed an Executive Order, dated October 30, 2023, to ensure safe, secure, and trustworthy development and use of artificial intelligence (AI).
The Monetary Authority of Singapore (MAS) launched an integrated digital platform, Gprnt, also known as “Greenprint.”
The European Banking Authority (EBA) has published the final templates, and the associated guidance, for collecting climate-related data for the one-off Fit-for-55 climate risk scenario analysis.
The Network for Greening the Financial System (NGFS) published its latest set of long-term climate macro-financial scenarios (Phase IV) for assessing forward-looking climate risks.