New ISO Legal Entity ID Group to Submit Draft Standard

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The working group set up to create a new International Organization for Standardization (ISO) standard for legal entity identification is ready to submit a draft of its proposed standard, which ISO member countries will have three months to vote on.

In February, an ISO study group set up by the financial services technical committee 68 (TC68) recommended that a dedicated legal entity identifier standard should be created to meet new regulatory requirements.

Since then, a working group has come t