Cost Reduction Not Main Driver Behind LEI Adoption, Say Experts
Control rather than cost reduction should be the main driver behind the adoption of a legal entity identifier (LEI), according to speakers at a JWG event in London in April.
Panelists said that while cost savings will eventually come hand in hand with the adoption of the LEI, firms that deploy the identifier will initially experience a cost increase.
London-based Mark Davies, head of reference data at RBS Shared Services Finance, and speaker at the event, said that while the end goal for
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