At this week’s GLEIF workshop in San Francisco, a host of experts from around the world gathered to discuss identity in all shapes, ranging from regulatory reporting to commercial applications in cutting-edge consumer platforms. The focus of the meeting turned on digital identity, and the opportunities that exist to use the LEI as a part […]
At XBRL International we believe that there is an extraordinary opportunity for collaboration both between regulators and amongst the regulated to improve clarity, improve outcomes and to bring about significant simplification. It’s also a chance to lower the costs associated with inconsistent regulations imposed on business. JP Morgan Chase seems to agree.
Regulators are streamlining identity by adopting the LEI. With more than 1.2 million LEIs already acquired by companies operating in financial markets, this global identifier is now the preferred solution for regulatory reporting right around the world.
This is the fifth in a series of guest posts from Mohini Singh, ACA, Director, Financial Reporting Standards, CFA Institute. The US Securities and Exchange Commission (SEC) has proposed amendments intended to modernize and simplify certain disclosure requirements outside the financial statements as well as improve the readability and navigability of disclosure documents. This article comments […]
The Global Legal Entity Identifier Foundation (GLEIF) hosted a webinar last Thursday (16 November) to highlight and discuss progress in LEI reporting and supervision. This provided another opportunity to remind market participants to obtain an LEI in readiness for the European Union revised MiFID II mandate. With less than two months before the MiFID II regime […]
Research undertaken by McKinsey & Company and GLEIF estimates that the wider adoption of Legal Entity Identifiers (LEIs) could yield annual savings of over $150 million in the investment banking industry and up to a further $500m for banks in the issuance of letters of credit. The resulting white paper estimated that annual savings in […]
Users can now directly access the complete LEI data pool in real-time following the launch of a new API.
The Global Legal Entity Identifier Foundation (GLEIF) has recently published a list of current and proposed initiatives using the global LEI for regulatory reporting and supervision. Authorities in individual jurisdictions mandate the use of these increasingly important pieces of reference data. GLEIF is monitoring the initiatives and will continue to update this list regularly. At […]
This week XBRL International has released a new draft LEI taxonomy. The LEI taxonomy is intended to provide a single and consistent way for regulators (and companies) to use LEIs within XBRL reports.
OFR Speaks Out on Regulatory Burden. The spirit of the founding US Treasurer, Alexander Hamilton, seems alive and well at that agency. At the recent Financial Data Summit held in Washington, the Director of the Treasury’s Office of Financial Research, Dick Berner described the importance, to that agency, of reducing regulatory burden, describing the way […]
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XBRL International is a global not for profit operating in the public interest. Our purpose is to improve the accountability and transparency of business performance globally, by providing the open data exchange standard for business reporting.
