LEI continues to grow in importance

Posted on July 14, 2017 by Editor

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 XBRL International we encourage regulators to use the LEI as a primary or secondary identifier in their dealings with regulated companies. We believe that as the global network of companies (financial and non-financial) continues to grow, the LEI will be a crucial aspect of modern life. Not just for regulators, but to help make doing business easier. XBRL International has been working with the GLEIF to develop a small reference data taxonomy that can be used to manage identity in consistent ways with the LEI. Look for an update on that initiative very shortly.

You can read the overview here.

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