Global reference data is key
Interesting Point of View post from XBRL US’s Michelle Savage this week. Using the LEI not just for regulatory reporting but as a way for private sector firms to understand corporate relationships — and therefore risk — around the world is gaining traction. This is happening especially in Europe, but in Asia as well.
In some jurisdictions, including the US, LEIs are being used for dealing with other jurisdictions, but are not yet used extensively within the regulatory environment in that country.
Educating companies and regulators about the benefits of consistent, global standards for reference data is important everywhere. If this is true in your environment, do read Michelle’s post and the linked Comment Letter.
