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.
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.
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 […]
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 […]
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 […]
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 […]