Featured Product

    GLEIF Adds Validation Agents, Develops Tool to Standardize Legal Forms

    November 08, 2022

    The Global Legal Entity Identifier Foundation (GLEIF) expanded its validation agent network by adding two new validation agents within the Global Legal Entity Identifier (LEI) system. The new validation agents are Sparkasse Bank Malta plc and Diligencia. Dilligencia is a UK-based leading provider of corporate intelligence and due diligence solutions in the Middle East and Africa while Sparkasse Bank Malta plc is a European bank offering corporate and private banking, investment, and custody services. With these two additions, the number of Validation Agents globally increased to more than 10, spanning Africa, China, Europe, India, the Middle East, and North America. GLEIF, in collaboration with Sociovestix Labs, also developed a machine learning tool to automatically detect and standardize legal forms.

    GLEIF collaborated with Sociovestix Labs to develop a machine learning tool that recognizes an entity’s specific legal form and automates the assignment of its corresponding Entity Legal Form (ELF) code. The new tool will allow banks, investment firms, corporations, governments, and other large organizations to retrospectively analyze their master data, extract the legal form from the unstructured text of the legal name, and uniformly apply an Entity Legal Form (ELF) code to each entity type, according to the ISO 20275 standard. The "ELF Code List" is based on the ISO standard 20275 "Financial Services – Entity Legal Forms" and assigns a unique alpha-numeric code of four characters to each ELF.  J.P. Morgan has tested the new machine learning tool and is evaluating its integration into the data pipeline.


    Related Links


    Keywords: International, Banking, Insurance, Securities, Regtech, Machine Learning, LEI, Validation Agent, Reporting, Legal Forms, GLEIS, ELF Code List, GLEIF

    Featured Experts
    Related Articles

    BOE Sets Out Its Thinking on Regulatory Capital and Climate Risks

    The Bank of England (BOE) published a working paper that aims to understand the climate-related disclosures of UK financial institutions.

    March 13, 2023 WebPage Regulatory News

    OSFI Finalizes on Climate Risk Guideline, Issues Other Updates

    The Office of the Superintendent of Financial Institutions (OSFI) is seeking comments, until May 31, 2023, on the draft guideline on culture and behavior risk, with final guideline expected by the end of 2023.

    March 12, 2023 WebPage Regulatory News

    BIS Paper Examines Impact of Greenhouse Gas Emissions on Lending

    BIS issued a paper that investigates the effect of the greenhouse gas, or GHG, emissions of firms on bank loans using bank–firm matched data of Japanese listed firms from 2006 to 2018.

    March 03, 2023 WebPage Regulatory News

    HMT Mulls Alignment of Ring-Fencing and Resolution Regimes for Banks

    The HM Treasury (HMT) is seeking evidence, until May 07, 2023, on practicalities of aligning the ring-fencing and the banking resolution regimes for banks.

    March 02, 2023 WebPage Regulatory News

    BCBS Report Examines Impact of Basel III Framework for Banks

    The Basel Committee on Banking Supervision (BCBS) published results of the Basel III monitoring exercise based on the June 30, 2022 data.

    February 28, 2023 WebPage Regulatory News

    PRA Consults on Prudential Rules for "Simpler-Regime" Firms

    Among the recent regulatory updates from UK authorities, a key development is the first-phase consultation, from the Prudential Regulation Authority (PRA), on simplifications to the prudential framework that would apply to the simpler-regime firms.

    February 28, 2023 WebPage Regulatory News

    DNB Publishes Multiple Reporting Updates for Banks

    DNB, the central bank of Netherlands, updated the list of additional reporting requests and published additional data quality checks and XBRL-Formula linkbase documents for the first quarter of 2023.

    February 28, 2023 WebPage Regulatory News

    NBB Sets Out Climate Risk Expectations, Issues Reporting Updates

    The National Bank of Belgium (NBB) published a communication on climate-related and environmental risks, issued an update on XBRL reporting

    February 24, 2023 WebPage Regulatory News

    EBA Updates Address Securitization Standards and DGS Guidelines

    The European Banking Authority (EBA) published the final draft of the regulatory technical standards that set out conditions for assessment of homogeneity of the underlying exposures in simple, transparent, and standardized (STS) securitizations.

    February 21, 2023 WebPage Regulatory News

    FSB Publishes Letter to G20, Sets Out Work Priorities for 2023

    The Financial Stability Board (FSB) published a letter intended for the G20 Finance Ministers and Central Bank Governors, highlighting the work that FSB will take forward under the Indian G20 Presidency in 2023

    February 20, 2023 WebPage Regulatory News
    RESULTS 1 - 10 OF 8793