News

The future of the LEI: transparency and trust in the global economy

20 marraskuun 2024

Towards a more secure and transparent global digital economy Digital transformation is revolutionising companies, industries, and markets worldwide. At the same time, the need for trust and transparency is becoming ever clearer—especially in an increasingly globalised economy. In this context, the Legal Entity Identifier (LEI) plays a crucial role: it creates a standardised, reliable basis […]

The rise of the LEI: Why the Legal Entity Identifier is becoming increasingly important for companies

13 marraskuun 2024

What is the Legal Entity Identifier (LEI)? The Legal Entity Identifier (LEI) is a 20-digit alphanumeric code based on the ISO 17442 standard developed by the International Organisation for Standardisation (ISO). This code is permanently linked to important reference information that enables the unique identification of legal entities involved in official transactions. Each LEI contains […]

From India to Australia: Why the Legal Entity Identifier is gaining in importance

5 marraskuun 2024

The demand for the Legal Entity Identifier (LEI) is growing worldwide, especially in Asia. The driving force behind this growth is regulatory requirements, which increasingly encourage the introduction and use of the LEI. LEI: A global standard on the rise According to the latest report by the Global LEI Foundation (GLEIF), around 67,000 new LEIs […]

Transparency as a strategy: How the LEI supports companies in the fight against fraud

22 lokakuun 2024

Corporate fraud is a constant threat in an increasingly globalised world economy. The growing complexity and sophistication of these forms of fraud are challenging organisations of all sizes to make transparency and trustworthiness part of their strategic priorities. The Legal Entity Identifier (LEI) offers an effective solution to promote transparency in the global marketplace and […]

The crucial role of the compliance officer: How the Legal Entity Identifier (LEI) strengthens trust and transparency in companies

10 lokakuun 2024

Today, we celebrate the essential work of compliance officers whose dedication forms the backbone of trust and transparency in global business operations. Compliance officers face the challenging task of fulfilling regulatory requirements, maintaining international standards, and strengthening stakeholder trust. Tools such as the Legal Entity Identifier (LEI) and the verifiable LEI (vLEI) are becoming increasingly […]

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

30 syyskuun 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 syyskuun 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 syyskuun 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 syyskuun 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 elokuun 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 […]

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