LATEST FROM LEI WORLDWIDE

The Digital Operational Resilience Act (DORA) introduces essential regulations for strengthening the financial sector's defense against digital disruptions. A key requirement under DORA is the use of Legal Entity Identifiers (LEIs) to ensure transparency and traceability in financial transactions. This blog explores the significance of LEIs within DORA, highlighting their role in enhancing risk management, data quality, and global compliance.

Explore how CHAPS and LEI facilitate efficient financial transactions and compliance with Bank of England regulations. Ensure your organization is equipped with the necessary Legal Entity Identifier for seamless integration into the CHAPS payment system. Click here to read more about CHAPS and LEI compliance.

The 2024 Global Funds Conference was hosted in Dublins fantastic Royal Dublin Convention Centre and organised by Irish Funds. The aim of the annual event is to highlight the international funds and asset management industry, both in Ireland and globally. traditionally the event attracts a wide range of participants from across the international investment funds community. LEI Worldwide return for the third consecutive year as event sponsors and exhibitors.

RBI mandates LEI for corporate borrowers with exposures exceeding Rs. 10 Crore ($1,197,815). Failure to obtain LEI renders borrowers ineligible for further loans or enhancements. Deadline: April 30, 2024. LEI is also required for transactions over ₹50 Crore. Compliance essential for transparency and trust in financial transactions. Apply now for LEI registration in India to meet RBI regulations.

EMIR (European Market Infrastructure Regulation) Refit, part of the EU's regulatory agenda, updates reporting obligations and standardization controls for financial markets. It increases reporting fields and switches to ISO 20022-XML format, emphasizing the importance of maintaining active LEIs. Entities must ensure LEIs are up to date (renewed) to avoid reporting issues. Financial institutions should use a comprehensive dashboard for LEI management. Contact us to discuss EMIR Refit readiness.

The Commonwealth Bank of Australia becomes the first Australian bank to join the Validation Agent Framework in order to provide LEIs in a more streamlined process to Australian clients and entities with updatesto  ASICs OTC Derivative Trading guidelines.  

LEI Worldwide grew to become Ireland's leading provider of LEIs in 2023, and is set to expand on that title in 2024. With release of the GLEIFs January 2024 Data Quality report showing we are now providing LEI management services for more tha. double the numbver of clients as other providers headquartered in the jurisdiction. 

LEI Worldwide are extremely proud to hear the exciting news that the organisation has made the RegTech100 list for 2024. The RegTech100 is a complete list of the top 100 RegTech (regulatory technology) companies globally. 

LEI Worldwide has been listed as the LEI provider for the 2023 in the Deloitte RegTech Universe list, which comes in quick succession after being named finalists in the FS Awards 2023 and National FinTech Awards.

The United Nations Development Programme (UNDP) and the Monetary Authority of Singapore (MAS) have collaborated on Project Savannah, aiming to digitize ESG credentials for micro, small, and medium-sized enterprises (MSMEs) using the Legal Entity Identifier (LEI). The initiative aims to simplify reporting requirements and help MSMEs work towards the UN's Sustainable Development Goals. The LEI will serve as a single source of identity for legal entities within the platform, enabling easier tracking and organization of data. MSMEs will have LEI records with visible ESG credentials, facilitating transparency and compliance. Obtaining an LEI for a Singapore company is possible through registration or using the RAMP LEI Management System.

Join our latest discussion on how we can enhance cross-border payments by exploring the latest topic covered by the GLEIF. In this article, we explore the synergies between the Legal Entity Identifier (LEI) and Business Identifier Code (BIC) and how they can reshape the identifying process of international transactions. We look at recent comments made by GLEIF and explore the advantages of adopting these identifiers to create a faster, more cost-effective, and transparent global payment system. Continue reading to find out more...

The financial regulators in South Korea have decided to relax a number of outdated regulations which act as a push factor to foreign investors. The recent decision was made to relax laws, and in their place a simple registration form asking for an active LEI will be required. 

A new bill passed by the UK parliament will boost growth for the United Kingdom by reducing reliance on paper based trade documents, and encouraging usage and legal acceptance of digital documentation. This sets a precedent, opens the floor to a new wave of digital innovations, and is good news for the global economy, but and also digital based identity solutions such as the LEI and vLEI. 

The FS Dublin Awards recognise the financial services change-makers in Ireland. They acknowledge the companies, teams, and individuals leading, innovating and shaping their organisations through Excellence, Innovation, and Trust – indispensable qualities in an ever-changing industry. LEI Worldwide have been nominated as a finalist in the Compliance and RegTech category for excellence and innovation in providing RegTech solutions to financial services firms globally. 

The GLEIS LEI system is rapidly expanding. There are well over 2 million LEIs currently registered globally. Many firms are experiencing growing pains when it comes to managing their ever expanding LEI portfolios, which consists of LEIs within their global group structures, partner networks, branches, and even tracking clients LEIs. If you are currently using multiple providers, with LEIs scattered across different accounts, users and jurisdictions with little to no governance or oversight over your global LEI portfolio then we have outlined a simple practice to help you maintain control over your LEIs, your clients LEIs, or any LEIs that you may deem important to keep track of.