The business benefits of LEI adoption
LEIs are quickly being adopted by jurisdictions around the world. The unique 20-digit codes are now mandatory for many companies operating within Europe, North America, Australia, and Asia. While registering for an LEI may be compulsory for your company, the widespread adoption of LEIs comes with a host of benefits for financial services businesses. Promoting … Continued
Regulatory Use of Legal Entity Identifiers. The LEI Regulatory Oversight Committee (LEI ROC)
The potential regulatory benefits associated with a global framework for financial transactions was recognised as early as 20 years prior to the 2008 financial crisis. Prior to the implementation of the Global LEI System, each country was responsible for implementing their own framework to track financial transactions. The ad hoc nature of the previous system … Continued
The importance of trust in Identity in the digital Age
As digital solutions become increasingly omnipresent, the importance of implementing mechanisms to establish trust in identity in the digital age increases too. Keeping our online identities safe is one side of the coin; keeping ourselves safe as we transact with faceless customers is the other. The complexity only increases when we consider the business transactions … Continued
When do you need a Legal Entity Identifier?
The use of LEIs within Canada is mandated by the Provincial Governments. LEIs have been compulsory in Manitoba, Ontario and Quebec since October 31, 2014 and across all other provinces and territories since July 2016. Legal entities that trades in debt securities have been required to report the trades to the relevant body within their … Continued