Featured Product

    LEI ROC Publishes Policy on Fund Relationships in Global LEI System

    May 20, 2019

    LEI ROC published its final policy on fund relationships in the Global Legal Entity Identifier System (GLEIS), along with guidelines for the registration of investment funds in the GLEIS. The report provides definitions of relationships affecting investment funds or collective investment schemes ("Fund Management Entity," "Umbrella Fund," and "Master-Feeder") and specifies when reporting these relationships would be optional. Implementation is expected within eighteen months of the publication of this policy.

    The eighteen months are needed for the implementation, given the need for GLEIF to prepare the technical standards in consultation with the Local Operating Units (LOUs), for LOUs to implement them and provide sufficient guidance to registrants ahead of implementation. The policy report explains the objectives of the data collection and details why the rules of GLEIS should require a fund to report the LEI as opposed to only the name of the related entity. It also explains why, following the public consultation, the continuation of an optional approach has been adopted by LEI ROC, with some exceptions. The policy describes how these relationships should be verified, lists issues to consider when representing fund relationships in the GLEIS, and discusses the future work on other fund relationships.

    The report offers a limited update to the way relationships affecting investment funds are recorded in GLEIS, with the aim to ensure that the implementation of relationship data is consistent throughout the GLEIS and to provide a way to facilitate the standardized collection of fund-relationship information at the global level. This is being done by providing definition for fund relationship and aligning the data structure with what is done for direct and ultimate accounting parent entities as defined in LEI ROC report of March 2016. The report asks GLEIF to replace the current optional reporting of a single “fund family” relationship as part of Level 1 (reference data of the entity) with certain relationships as part of “Level 2” data (relationship data). In line with responses to the first consultation, LEI ROC adopted eliminating the proposed generic category “Other Fund Family” (except for past records) and not including any additional relationships at this stage. LEI ROC adopted that the collection of these relationships in the GLEIS will be optional, except

    • If the relationship is mandated to be reported and publicly available in the relevant jurisdiction and if the LEI is mandatory for the related entity in the relevant jurisdiction
    • For the relationship between an umbrella structure and a sub-fund or compartment or other sub-structure

     

    Effective Date: Policy Report+18 Months

    Keywords: International, Banking, Securities, Fund Relationships, GLEIS, GLEIF, LEI, LEIROC

    Related Articles
    News

    MAS Amends Notice 610 on Reporting Templates for Banks in Singapore

    MAS published amendments to Notices 610 and 1003 related to submission of statistics and returns, along with the reporting templates and frequently asked questions (FAQs) associated with these Notices.

    January 24, 2020 WebPage Regulatory News
    News

    HKMA Updates Policy Module on Supervisory Review Process

    HKMA is issuing, by notice in the Gazette, revised versions of two Supervisory Policy Manual modules as statutory guidelines under section 7(3) of the Banking Ordinance. The Supervisory Policy Manual modules are CA-G-5 on “Supervisory Review Process” and SB-2 on “Leveraged Foreign Exchange Trading.”

    January 24, 2020 WebPage Regulatory News
    News

    PRA Amends Pillar 2 Capital Framework for Banks

    PRA published the policy statement PS2/20 that contains the final amendments to the Pillar 2 framework and provides feedback to responses to the consultation paper CP5/19 on updates related to Pillar 2 capital framework.

    January 23, 2020 WebPage Regulatory News
    News

    FED Proposes to Revise Information Collection Under Market Risk Rule

    FED proposed to revise and extend, for three years, FR 4201, which is the information collection under the market risk capital rule.

    January 22, 2020 WebPage Regulatory News
    News

    HKMA Consults on Stay Rules on Financial Contracts Under FIRO

    HKMA published proposals for making rules related to contractual stays on termination rights in financial contracts for authorized institutions under FIRO or the Financial Institutions (Resolution) Ordinance (Cap. 628).

    January 22, 2020 WebPage Regulatory News
    News

    MAS Amends Notices on Minimum Liquid Asset Requirements for Banks

    MAS published amendments to Notices 1015, 613, and 649 related to the minimum liquid assets (MLA) requirements.

    January 21, 2020 WebPage Regulatory News
    News

    APRA Publishes Submission on Fintech and Regtech

    APRA published its submission, to the Senate Select Committee, on financial technology and regulatory technology.

    January 21, 2020 WebPage Regulatory News
    News

    OSFI to Implement Operational Risk Capital Rules for Banks in Q1 2022

    OSFI decided to move domestic implementation of the revised Basel III operational risk capital requirements from the first quarter of 2021 to the first quarter of 2022.

    January 20, 2020 WebPage Regulatory News
    News

    ECB Consults on Guideline on Threshold for Credit Obligations Past Due

    ECB published a draft guideline, along with the frequently asked questions (FAQs), on the definition of the materiality threshold for credit obligations past due for less significant institutions.

    January 20, 2020 WebPage Regulatory News
    News

    OSFI Consults on Instruction Guide for Termination of Pension Plan

    OSFI is consulting on draft revisions to the instruction guide for termination of a defined benefit pension plan.

    January 20, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 4529