Featured Product

    GLEIF Annual Report in Machine-Readable Format with Inclusion of LEIs

    May 22, 2019

    GLEIF, in partnership with XBRL International, has published its 2018 annual report in human and machine-readable Inline XBRL and HTML format, with GLEIF’s LEI embedded into the financial information for the first time. This becomes the first official business report globally that automatically links the filing entity to its verified LEI reference data held within the Global LEI Index. The annual report highlights the status of GLEIF’s operations, financial condition, and key developments in 2018.

    The process of embedding an organization’s LEI—or that of its affiliates, subsidiaries, and parent companies—within digital financial reports, allows market participants who rely on official documents to inform strategic decisions (for example, traders, investors, and regulators) to quickly and easily consolidate and verify information on a filing entity. Filing financial statements in Inline XBRL format has already become a compliance requirement across many jurisdictions. GLEIF encourages companies preparing for this scenario to consider not only the advantages of making paper or PDF-based reporting a thing of the past, but of also integrating the LEI of the filing entity, its affiliates, and parent companies in their machine-readable reports. Such a simple action can generate significant industry-wide benefits, including increased trust, enhanced data check methods, and reduced fraud. Through this development, GLEIF has demonstrated another tangible way in which LEIs support the global digital economy.

    Within the 2018 annual report of GLEIF, LEI is also embedded in the digital certificates of signing executive officers of GLEIF. These certificates, for the first time, connect the role of the signatory to an organization through the LEI and can, therefore, be used to verify—automatically, through the shared LEI—that the filed document and the signatories represent the same organization. With a view to further the digital economy globally, GLEIF aims to make standardized digital signing with the LEI available to all. A standard way to embed the LEI in digital certificates as a new separate part of the LEI standard (ISO 17442) has been proposed and is under development by the International Organization for Standardization.

    XBRL International is the standards development organization behind the freely licensed XBRL specifications. The purpose of XBRL International is to improve the accountability and transparency of business performance globally, by providing the open data exchange standard for business reporting. The standards are used by more than 130 regulators in more than 70 countries to collect high-quality, reliable, and timely digital business information from millions of companies worldwide.

     

    Related Links

    Keywords: International, Banking, Insurance, Securities, LEI, Inline XBRL, Global LEI Index, Annual Report, XBRL International, Machine-Readable Report, GLEIF

    Related Articles
    News

    APRA Revises Standard on Margin Rules for Uncleared Derivatives

    APRA revised CPS 226, which is the prudential standard on margin and risk mitigation requirements for non-centrally cleared derivatives.

    September 19, 2019 WebPage Regulatory News
    News

    SEC Adopts Rules and Amendments Under Regulatory Regime for Swaps

    SEC announced that it took a significant step toward establishing the regulatory regime for security-based swap dealers (SBSDs) by adopting a package of rules and rule amendments under Title VII of the Dodd-Frank Act.

    September 19, 2019 WebPage Regulatory News
    News

    PRA Issues Consultation on Prudent Person Principle Under Solvency II

    PRA, via the consultation paper CP22/19, has set out its proposed expectations for investment by firms, in accordance with the Prudent Person Principle (PPP).

    September 18, 2019 WebPage Regulatory News
    News

    PRA Proposal on Probability of Default and LGD Estimation

    PRA proposed, via the consultation paper CP21/19, an approach to implementing EBA’s recent regulatory products relating to Probability of Default (PD) estimation, Loss Given Default (LGD) estimation, and the treatment of defaulted exposures in the internal ratings-based (IRB) approach to credit risk.

    September 18, 2019 WebPage Regulatory News
    News

    BIS Formalizes Agreement to Set Up Innovation Hub in Hong Kong SAR

    BIS and HKMA signed the Operational Agreement on the BIS Innovation Hub Center in Hong Kong Special Administrative Region (SAR).

    September 18, 2019 WebPage Regulatory News
    News

    APRA Observations from Thematic Review on Recovery Plans of Insurers

    APRA issued a letter to general insurers and life insurers, outlining observations from a recent thematic review on recovery planning by insurers.

    September 18, 2019 WebPage Regulatory News
    News

    BNM Publishes Financial Stability Review for the First Half of 2019

    BNM published Financial Stability Review for the first half of 2019.

    September 18, 2019 WebPage Regulatory News
    News

    CFTC Extends Comment Period for Proposals on Cross-Border Clearing

    CFTC announced that it is extending, until November 18, 2019, the comment period for the proposal for an alternative compliance framework for derivatives clearing organizations (DCOs) that are organized outside of U.S. and that do not pose substantial risk to the U.S. financial system.

    September 18, 2019 WebPage Regulatory News
    News

    FASB Issues Summary of Tentative Board Decisions at September Meeting

    FASB published a summary of the tentative decisions taken at its Board meeting in September 2019.

    September 18, 2019 WebPage Regulatory News
    News

    EIOPA Forms Consultative Expert Group on Digital Ethics in Insurance

    EIOPA established the Consultative Expert Group on Digital Ethics in Insurance to assist EIOPA in the development of digital responsibility principles in insurance.

    September 17, 2019 WebPage Regulatory News
    RESULTS 1 - 10 OF 3848