Industry professionals have their work cut out for them concerning the legal entity identifier (LEI) standard, ratified in 2011, and administrators of the standard were also named last year. Data professionals from Cusip Global Services, BNY Mellon and RBS gathered for a webcast sponsored by Standard & Poor's on December 13 to look at the challenges the industry will face when implementing LEI this year, as Michael Shashoua reports
While the Financial Standards Board and the G-20 are expected to ratify a 20-character legal entity identifier (LEI) in June, participants in our December webcast, and the panelists themselves, said they expect full implementation to stretch well into 2013 or 2014. They were also somewhat divided over how much benefit LEI will yield for risk management and data quality. Firms should budget for LEI...
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