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The global legal entity identifier system: How can it deliver?

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journal contribution
posted on 11.03.2019 by Ka Kei Chan, Alistair Milne
We examine the global legal entity identifier (LEI) system for the identification of participants in financial markets. Semi-structured interviews with data professionals revealed the many ways in which the LEI can improve both business process efficiency, and counterparty and credit risk management. Larger social benefits, including the monitoring of systemic financial risk, are achievable if it becomes the accepted universal standard for legal entity identification. Our interviews also review the substantial co-ordination and investment barriers to LEI adoption. To address these, a clear regulatory-led road map is needed for its future development, with widespread application in regulatory reporting.

Funding

This paper is an updated version of our earlier working paper written with the support of a grant 2012-5-50CD from the Alfred P. Sloan Foundation, updated to take account of developments in the intervening five years.

History

School

  • Business and Economics

Department

  • Business

Published in

Journal of Risk and Financial Management

Citation

CHAN, K.K. and MILNE, A., 2019. The global legal entity identifier system: How can it deliver? Journal of Risk and Financial Management, 12(1): 39.

Publisher

© The Authors. Published by MDPI AG

Version

VoR (Version of Record)

Publisher statement

This work is made available according to the conditions of the Creative Commons Attribution 4.0 International (CC BY 4.0) licence. Full details of this licence are available at: http://creativecommons.org/licenses/ by/4.0/

Acceptance date

19/02/2019

Publication date

2019-03-07

Notes

This is an Open Access Article. It is published by MDPI under the Creative Commons Attribution 4.0 Unported Licence (CC BY). Full details of this licence are available at: http://creativecommons.org/licenses/by/4.0/

ISSN

1911-8066

Language

en

Licence

Exports