LEI ROC Consults on Fund Relationships in the Global LEI System

The report proposes a limited update to the way relationships affecting funds are recorded in the GLEIS; the objective is to ensure that the implementation of relationship data is consistent throughout the GLEIS and provides a means to facilitate a standardized collection of fund relationship information at the global level. This is being done by providing definition of fund relationships and aligning the cases where the information is necessary to what will be done for direct and ultimate accounting parent entities as defined in the LEI ROC report of March 2016. This collection is also designed to help ensure that relationships affecting an important proportion of entities that have LEI are appropriately covered. The report proposes 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):

The report also discusses and seeks views on whether an entity that has a relationship with a fund should always be reported to the GLEIS using the LEI of this entity (which would, in practice, force such related entities to obtain an LEI, even where they are not required to do so by the law or regulation of the jurisdiction where they are organized and/or do business), or whether the current situation where a name is recorded could be continued, as well as other issues such as the validation and recording of these relationships. This consultation document was developed by the LEI ROC under its Committee on Evaluation and Standards (CES).

Comment Due Date: November 26, 2017

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