GLEIF announced that financial institutions worldwide can realize a variety of cost, efficiency, and customer experience benefits by assuming a new “validation agent” role within the Global Legal Entity Identifier (LEI) System. Financial institutions acting as validation agents simplify LEI issuance for their clients, reduce time-to-revenue, and future-proof their institutions for digital innovation. The Validation Agent Framework is a new operational model in the Global LEI System. Validation agents can now obtain LEI for their customers when verifying the identity of a client during initial onboarding or during a standard client refresh update.
In addition, GLEIF published the latest quarterly Global LEI System business report and the monthly global LEI data quality report. GLEIF also updated the list of current and proposed regulatory activities, including activities on the use of LEI. This GLEIF list offers details, including links to domestic implementation documents, for jurisdictions where LEI is required, along with the effective date. Finally, GLEIF published an article that explains the benefits embedded in the digital financial reporting using the European Single Electronic Format (ESEF).
- Notification on Validation Agent Role
- Notification on GLEIS Business Report
- Notification on Data Quality Report
- List of Regulatory Activities
- Article on ESEF Digital Financial Reporting
Keywords: International, Banking, Insurance, Securities, Reporting, Regulatory Activities, Data Quality Report, Validation Agent, GLEIS, LEI, ESEF, GLEIF
Previous ArticleFDIC Selects Technology Companies for Rapid Prototyping Competition
The three European Supervisory Authorities (ESAs) issued a letter to inform about delay in the Sustainable Finance Disclosure Regulation (SFDR) mandate, along with a Call for Evidence on greenwashing practices.
The International Sustainability Standards Board (ISSB) of the IFRS Foundations made several announcements at COP27 and with respect to its work on the sustainability standards.
The International Organization for Securities Commissions (IOSCO), at COP27, outlined the regulatory priorities for sustainability disclosures, mitigation of greenwashing, and promotion of integrity in carbon markets.
The European Banking Authority (EBA) issued a statement in the context of COP27, clarified the operationalization of intermediate EU parent undertakings (IPUs) of third-country groups
The Office of the Superintendent of Financial Institutions (OSFI) published an annual report on its activities, a report on forward-looking work.
The Australian Prudential Regulation Authority (APRA) finalized amendments to the capital framework, announced a review of the prudential framework for groups.
The Bank for International Settlements (BIS) Innovation Hubs and several central banks are working together on various central bank digital currency (CBDC) pilots.
The European Central Bank (ECB) published the results of its thematic review, which shows that banks are still far from adequately managing climate and environmental risks.
Among its recent publications, the European Banking Authority (EBA) published the final standards and guidelines on interest rate risk arising from non-trading book activities (IRRBB)
The European Commission (EC) recently adopted regulations with respect to the calculation of own funds requirements for market risk, the prudential treatment of global systemically important institutions (G-SIIs)