CFTC expands LEI Requirements
Last week the US Commodity Futures Trading Commission (CFTC) adopted a proposal to expand the use of Legal Entity Identifiers (LEIs).
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GLEIF Oversight Committee to govern Derivatives Identifiers
The Financial Stability Board (FSB) announced that the Global Legal Entity Identifier Foundation (GLEIF), responsible for the LEI, would begin overseeing the unique identifiers used to track over-the-counter (OTC) derivatives this week from 1 October.
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LEI embedded in ESEF boosts Trust
When public companies across Europe begin filing annual financial reports in the digital, machine-readable ESEF format at the start of 2020, alongside introducing iXBRL tagging, they will also begin to embed their Legal Entity Identifier (LEI) within reports.
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ECB supports LEI and enhanced reporting
A recent European Commission (EC) consultation – designed to inform the new EU digital finance strategy – has been considering amendments to the EU regulatory framework in response to rapidly evolving financial-technology landscape.
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LEI Taxonomy finalised
In reporting, the only thing likely to create more confusion than having two standards covering one field, is having two XBRL taxonomies representing the same standard. Computers are terribly literal machines and won’t understand, for example, that Japan.LEI and Mexico.LEI are referencing the same thing.
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One small step for Europe as GLEIF and ESMA publish example ESEF report
Leading by example, this week the Global LEI Foundation (GLEIF) published its annual report in Inline XBRL format. But GLEIF went further than that. The report has also been published on the ESMA website as an example ESEF report. The report conforms to the requirements set out in the ESEF Regulation and the guidance in […]
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LEI Taxonomy reaches Proposed Recommendation status
The Legal Entity Identifier (LEI) taxonomy has been published as a Proposed Recommendation. This indicates that sufficient implementation experience has been obtained to confidently believe that no additional development is needed. If no further issues are identified at this stage the specification will next be re-issued as an XBRL Recommendation. The LEI, governed by Global Legal […]
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XBRL US supports proposal requiring LEI for Surveys
The US Department of Commerce is consulting on a proposed rule update to International Services Surveys (BE-180), including a plan to require survey respondents that have a Legal Entity Identifier (LEI) to provide it. XBRL US has submitted a comment letter in support of this proposal, arguing that the LEI ‘presents a critical opportunity to […]
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Draft LEI Taxonomy Guidance Available
The LEI in XBRL Working Group, working under XBRL International’s Best Practice Board, has published guidance on how to use the recently updated LEI Taxonomy to incorporate LEIs into XBRL reports. Legal Entity Identifiers (LEIs) provide uniform and unique identification of legal entities, improving the consistency and comparability of data. LEIs are governed by the independent not for profit Global […]
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New LEI Taxonomy
The XBRL Best Practices Board has approved the publication of an updated version of the Legal Entity Identifier (LEI) taxonomy. This taxonomy, developed by the LEI in XBRL Working Group seeks to standardise the ways in which LEIs are used in XBRL Reports. LEIs provide globally unique identifiers for companies and other entities, and standardising the […]
Consultations
Open Consultations
- Collection of annual financial reports from Nationally Recognized Statistical Rating OrganizationsResponses due by 17-05-2024
- Draft RTS on the conduct of oversight activities in relation to the joint examination teams under DORAResponses due by 18-05-2024
- New framework for the business indicator for operational riskResponses due by 21-05-2024
- Market study on UK sustainability assurance marketResponses due by 13-06-2024
- Business Combinations—Disclosures, Goodwill and ImpairmentResponses due by 15-07-2024
- Exposure Drafts of Sustainability Disclosure StandardsResponses due by 31-07-2024
