GLEIF keeps pace with updated regulatory LEI implementations
The Global Legal Entity Identifier Foundation (GLEIF) plays a pivotal role in monitoring and facilitating the adoption of the Legal Entity Identifier (LEI) in regulatory reporting and supervision. GLEIF regularly updates its list of current and proposed regulatory activities involving the utilisation of LEIs, reflecting the ongoing commitment to transparency and regulatory compliance.
For the year 2024, several noteworthy regulatory implementations are on the horizon. In Japan, the Financial Services Agency (FSA) is requesting use of the LEI through updates to the FIEA: Financial Instruments and Exchange Act. Japan’s FSA emphasises the importance of LEIs in the oversight of over-the-counter derivatives transactions, enhancing market integrity.
In the EU, the use of the LEI will be required with new anti-money laundering regulation and crypto-asset transfer regulation. The EU hopes to leverage LEIs in combating financial crimes and ensuring the integrity of fund transfers.
As GLEIF continues to update its regulatory implementations list, it invites stakeholders to provide feedback on any upcoming legislation relevant to LEI adoption. This collaborative approach ensures a comprehensive and accurate reflection of the evolving landscape of legal entity identification.
For detailed information on these regulatory activities and more, refer to the GLEIF Regulatory Implementations List.
