News

International Identity Day: The importance of the Legal Entity Identifier (LEI) in the context of digital identities

30 September 2024

On International Identity Day on 16 September, we remember how important it is for every person and every company to have a secure and verifiable identity. This day has been celebrated since 2018 to emphasise the importance of identity as a fundamental human right. The choice of date (16.9) symbolically refers to the UN Sustainable […]

Electronic commercial documents: More security through LEI and vLEI

25 September 2024

Electronic trade documents are becoming more critical in the increasingly digitalised world of global trade. Platforms such as WaveBL are driving this development by using innovative technologies to increase the security and transparency of transactions. The Legal Entity Identifier (LEI) and the verifiable LEI (vLEI) play a central role. These identification standards help to reliably […]

U.S. Customs Agency advances trade modernization through global interoperability standards

9 September 2024

U.S. Customs and Border Protection (CBP) announces a significant step toward modernizing international trade. From 2024 to 2025, CBP will conduct a new phase of testing for global interoperability standards to make data exchange more secure, efficient, and transparent. These standards should not only revolutionize cross-border trade but also enable companies to process their imports […]

The FDTA Proposal: How the LEI strengthens your business in the financial world

2 September 2024

US financial regulation is about to take a decisive step. The US federal financial regulators have published a proposal to introduce common data standards for financial reporting. This proposal’s heart is the Legal Entity Identifier (LEI) – a globally recognized standard for uniquely identifying companies. The LEI provides a clear and consistent solution for companies […]

FSB supports increased use of the LEI to improve cross-border payments

28 August 2024

In a recently published consultation report, the Financial Stability Board (FSB) has recommended the increased use of the Legal Entity Identifier (LEI) to improve data standardisation and harmonisation for cross-border payments. This recommendation is part of the efforts launched in the G20 Roadmap to Improve Cross-Border Payments in October 2020. Why the LEI is crucial […]

The role of the LEI in preparing for the new 2024 ESG reporting standards

19 August 2024

In 2024, the business world will experience significant change, especially for European companies. The new ESG reporting standards introduced by the European Union’s Corporate Sustainability Reporting Directive (CSRD) will force companies to disclose their sustainability practices in more detail than ever before. The Legal Entity Identifier (LEI) plays a crucial role in this transformation and […]

LEI registration: A key to transparency and security in the financial industry

1 August 2024

The Global Legal Entity Identifier Foundation (GLEIF) is celebrating its tenth anniversary, a remarkable achievement that has had a far-reaching impact on the global financial world. The Legal Entity Identifier (LEI) introduction has revolutionised how financial transactions are conducted worldwide. With more than 2.5 million LEI numbers issued, GLEIF has set the standard for identifying […]

Integration of LEI in business processes and technology

22 July 2024

The Legal Entity Identifier (LEI) number is essential for companies looking to optimise their business processes and technology. This article looks at how organisations can integrate LEIs into their existing systems and processes, the benefits of integrating LEIs into ERP systems and financial software, and best practices and technology solutions. Effective integration of LEIs into […]

LEI and compliance: India’s regulatory requirements in focus

10 July 2024

The Legal Entity Identifier (LEI) number is increasingly important in the global financial sector. In India, regulators have introduced specific requirements and compliance measures to promote the use of LEI numbers and increase transparency in the financial sector. This article highlights the regulatory requirements, the role of the Reserve Bank of India (RBI), and the […]

Prospects and Trends for Legal Entity Identifiers (LEI) in India

3 July 2024

Future developments and trends in the LEI sector The introduction and proliferation of the Legal Entity Identifier (LEI) in India has a promising future. The LEI has gained considerable importance in recent years as a globally unique identifier for identifying legal entities. In India, the need for more transparent financial transactions and efficient risk management […]

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