Your weekly LEI roundup with highlights from the LEI ecosystem.
In this series, we aim to bring the latest news from the LEI ecosystem, so you can start the week one step ahead.
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A Map to Payments Transformation: FSB Recognizes Unique Identifiers as a Building Block for Enhanced Cross-border Payments
Clare Rowley, Head of Business Operations at the GLEIF, writes on the Financial Stability Board (FSB)’s Roadmap on Enhancing Cross-border Payments, which commits to consultation with the GLEIF and other stakeholders on a global Unique Identifier and outlines the FSB’s commitment to review options for increasing LEI adoption.
Read the blog on the GLEIF website.
Two new LEI podcasts 🎙️
First, an episode of Let’s Talk About Digital Identity featuring Ben Cronin, MD of RapidLEI partner UBO Service. The conversation centres around LEIs & corporate transparency for Obliged Entities, showcasing UBO Service’s innovative Ultimate Beneficiary Owner solution which leverages LEIs for KYC and enhanced CDD. Listen on Ubisecure’s website, or listen/subscribe on your preferred podcast platform: Apple, Google, Spotify (and more).
Second, Ubisecure & RapidLEI CEO Simon Wood is on PSA Today talking about the evolution of LEIs, the difference between high assurance and low assurance, and the relationship between rights and ownership as it relates to identity management of entities. PSA = Privacy, Surveillance, Anonymity and is hosted by Kaliya “Identity Woman” Young and Seth Goldstein. Listen on Spotify, Apple, Google and more.
ASIC calls for permanent removal of AVID and BIC as entity identifiers
ASIC’s Consultation Paper 334 proposes to update the ASIC Rules in respect of OTC derivative transaction reporting to require that a current, renewed LEI is the only allowable entity identifier for all eligible relevant entities. All LEIs used as entity identifiers will need to be duly renewed and remain valid at all times whereas this is not a current requirement under the Rules.
Read more on the TRAction website.
RapidLEI partner ecosystem
- LEI Register – What is an LEI database?
- PSW Group [in German language] – Legal Entity Identifier: LEI-Nummern und die MiFID II-Richtlinie
Find out more about becoming a RapidLEI partner.
More LEI news from around the web
- Finadium – SFM Interview: banks and regulators see expanding roles as LEI adoption grows
- Asian Development Bank (ADB) – Can the pandemic help end the paper chase that is hobbling international trade?
- Regulation Asia – GLEIF to Implement New Policies, File Formats in Global LEI System
- Law.com – LEIs Can Unlock Business Value to Realise a Digitalised Future
- The Herald – WTO set for wide ranging reforms
- ESMA – Equity Funds and Derivatives: Evidence from Linked Fund-Trade Data
- Financial InterGroup – The Global LEI Initiative: Beginning 2021 with Much Accomplished and an Ambitious Agenda
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