LEI News: July Update

Posted on August 30, 2019 by Editor

A Global Legal Entity Identifier Foundation (GLEIF) blogpost this summer provided an overview of the latest news relevant to Legal Entity Identifier (LEI) adoption, highlighting the growing recognition of the LEI’s contribution to the development of a global, digital economy.

In May we reported on the Global Legal Entity Identifier Foundation (GLEIF) taking the first small step in the process of transforming global trust: GLEIF’s 2018 annual report in Inline XBRL became the first business report ever to embed a Legal Entity Identifier (LEI). Automatically linking a filing entity to its verified LEI reference data means more security and efficiency in the process of publishing, accessing and aggregating digital financial information. But where else will the LEI prove useful?

GLEIF highlight the LEI’s contribution to progress in data standardisation. To truly take advantage of a fully automated, digital, global economy underlying data standardisation is needed. This will mitigate risk and enhance transparency, allowing automated financial and commercial transactions.

GLEIF’s blog highlights institutions and articles endorsing the LEI from the Bank of England to the FSB and in areas from blockchain to open data. It is worth a read to discover the extensive and varied areas where the LEI has been making an impact.

Read more here.

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