The Long and Winding Road to LEI

Chris Pickles, head of industry initiatives, global banking and financial markets, BT

At last there is a new ISO standard for a unique legal entity identifier—ISO 17442. For a considerable part of the last decade, lots of people working on standards around the world were battling towards achieving such a standard. The international initiative to create an ISO-standard International Business Entity Identifier (IBEI) was brought to a standstill, and instead the ISO-standard Bank Identifier Code (BIC) was massaged to turn it into a “Business Identifier Code”—one reason being that

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