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The value of the Legal Entity Identifier for the participants of the securities industry

Author

Listed:
  • Hartsink, Gerard

    (Chairman, Global Legal Entity Identifier Foundation, Switzerland)

Abstract

The G20 initiated the Legal Entity Identifier (LEI) programme and endorsed in 2012 the Financial Stability Board (FSB) recommendations for the development of the global LEI system to uniquely identify parties that are engaged in financial transactions. The LEI is based on the ISO 17442 LEI standard. The LEI data is available free of charge for any user of the public and private sectors on www.gleif.org. GLEIF delivers also free-of-charge services about the direct and ultimate parent and/or children of a legal entity. Several mapping services relevant for the securities industry are available. The FSB published in May 2019 its Peer Review Report with four sets of recommendations to increase the number of issued LEIs. The securities industry is an important segment of the private sector for the global LEI programme. In this paper, market participants are informed about the progress made in the implementation of the LEI programme and on the way toward global adoption — by self-regulation and/or regulation — for the benefit of investors and issuers.

Suggested Citation

  • Hartsink, Gerard, 2019. "The value of the Legal Entity Identifier for the participants of the securities industry," Journal of Securities Operations & Custody, Henry Stewart Publications, vol. 12(1), pages 29-40, December.
    • Handle: RePEc:aza:jsoc00:y:2019:v:12:i:1:p:29-40
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    More about this item

    Keywords

    FSB; GLEIF; LEI ROC; ISO 17442 LEI; ISO 9362 BIC; ISO ISIN 6166; ISO 20275 ELF;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • K22 - Law and Economics - - Regulation and Business Law - - - Business and Securities Law

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