This week the Global Legal Entity Identifier Foundation (GLEIF) announced the next step for the Legal Entity Identifier (LEI): a fully digital LEI service capable of enabling instant and automated identity verification across all industries worldwide.
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.
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 […]
Earlier this month the Global Legal Entity Identifier Foundation (GLEIF) held a Meet the Market event in order to explore areas the Legal Entity Identifier (LEI) could be further adopted within industry and the public sector. In an opening speech, Klaas Knot, Netherlands Central Bank Governor, described the valuable role the LEI can play in […]
Interesting news from the Global Legal Entity Identifier Foundation (GLEIF) this week as research shows that wider use of the Legal Entity Identifier (LEI) by banks could unlock an estimated US $2-4 billion across the global banking sector annually. While the LEI has been proving beneficial for identification in regulatory environments for some time now, […]
Annual reports, once a sheaf of printed paper delivered by snail mail, have evolved considerably with the expansion of digital technology. However, too often, they remain in debt to their paper-based past, reluctant to take advantage of the opportunities digitisation has presented. This week Communicate Magazine and the Evolution of the Annual Report conference have […]
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 […]
This great new video from the Global Legal Entity Identifier Foundation (GLEIF) clearly explains the process and advantages of Inline XBRL and unique digital identifiers. GLEIF recently published its annual reportusing machine-readable Inline XBRL format and embedding GELIF’s own Legal Entity Identifier into the financial information for the first time. The process of embedding an entity’s LEI […]
Since 2012 the Global Legal Entity Identifier (LEI) System has been used to uniquely identify over 1.4 million entities in more than 200 countries, standardising the identification of entities globally and bringing substantial regulatory benefits. However, take up beyond financial services is still slow, and further adoption is needed for the identifier to meet all of […]
Giant Leap for Global Trust: GLEIF creates LEI Digital Certificates, uses Inline XBRL Annual Report to demonstrate.