The Global Legal Entity Identification Foundation has welcomed the Bank of International Settlements’ Committee on Payments and Market Infrastructures’ advocation for use of the Legal Entity Identifier within ISO 20022 payments
The goal of the collaboration is to promote greater transparency in corporate ownership and control in support of safer, faster, and more efficient global payment activities
The initiative is part of an effort to increase requirements from regulators, financial institutions, and supply chain partners for corporations and businesses to report their sustainability performance
The organisation indicates a growing requirement for harmonisation in cross-border trust services in the face of increasing levels of international trade and commerce taking place across digital platforms
The MIC is an International Organization for Standardization code used to process and clear trades
The Global Legal Entity Identifier Foundation introduced the Validation Agent Framework to enable regulated institutions to leverage their KYC and AML onboarding procedures and help their clients obtain LEIs
The study analyses constraints imposed by poor data quality, fragmentation across data sources, and inadequate standardisation of data exchanges and forms part of a G20 Roadmap to promote speed, transparency and resilience in cross-border payments
The Foundation is now inviting partners to start the verifiable Legal Entity Identifier (vLEI) Issuer Qualification process, enabling a qualified LEI issuer to serve as the primary point of contact and issuing agency for legal entities seeking a vLEI
National Settlement Depository’s Eddie Astanin highlights how global trends are changing Russia’s post-trade sector, from the technology used to the regulations being implemented
