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Regulatory roadblock bypassed: ROC endorses 3 pre-LOUs for mutual acceptance
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03 Oct
2013

Regulatory roadblock bypassed: ROC endorses 3 pre-LOUs for mutual acceptance

The Regulatory Oversight Committee (ROC) for the Legal Entity Identifier (LEI) system has endorsed 3 Local Operating Units as being compliant with the ROC’s criteria for mutual acceptance. The 3 pre-LOUs endorsed are Germany’s WM Datenservice, France’s INSEE, and the CFTC’s CICI utility. With 13 pre-LOUs in existence, it’s likely we’ll be seeing this list Read More

27 Sep
2013

Interim issues: Pre-LEIs complicating regulatory implementation

Despite ESMA quietly delaying the timeline for Trade Reporting under EMIR to February 2014 (90 days + 5 after the predicted approval of the first Trade Repository in November), firms are now being faced with important decisions in how to implement the LEI. Discussion are required to address what regulations are there that require an Read More

26 Apr
2013

The LEI: From interim identifiers to a global standard

  • 26th April 2013
  • RegTechFS

Recently, CFTC Commissioner Scott O’Malia issued a blistering condemnation of the lack of data standards within financial services regulation: “the Commission told the industry what information to report, but didn’t specify which language to use. This has become a serious problem…. nobody should be under the illusion that promulgation of the reporting rules will enhance Read More

12 Mar
2013

Will an EU interim identifier be available in time for EMIR reporting?

  • 12th March 2013
  • RegTechFS

The newly formed LEI ‘Regulatory Oversight Committee’ (ROC) has released its first progress note. In the time between its formation, the election of members and the handover from the Financial Stability Board (FSB) in January this year, the ROC has been making significant progress. The newly formed LEI ‘Regulatory Oversight Committee’ (ROC) has released its Read More