Legal Entity Identifier - a Standard for Change

Legal-Eyed

deborah-culhane

Investment firms are hoping the new legal entity identifier (LEI) standard for trade reporting requirements will improve risk management when it is put into effect by the Office of Financial Research (OFR) on July 15.

However, while there is little doubt LEIs provide a common language for the securities industry to use, the mechanics of how they will be issued and sorted are still being finalized.

An LEI is a number used to identify a business entity engaging in financial transactions. The LEI c

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