Financial transactions - overview of related articles - American LEI
Important notice: from 13th April 2021 LEI is mandatory for non-EU (third country) issuers under SFTR regulation

News – Financial transactions

When do you need a Legal Entity Identifier?

Whilst there is no regulation equivalent to the MiFID II within the US market, its use is becoming more widespread. The Dodd-Frank Act has accellerated the adoption of universal LEIs within the US and further changes that mandate more widespread adoption of LEIs are expected in the future. The CFCT, NAIC, FED and SEC now … Continued

The business benefits of LEI adoption

LEIs are quickly being adopted by jurisdictions around the world. The unique 20-digit codes are now mandatory for many companies operating within Europe, North America, Australia, and Asia. While registering for an LEI may be compulsory for your company, the widespread adoption of LEIs comes with a host of benefits for financial services businesses. Promoting … Continued

What are the MiFID II and EMIR and why do they matter?

The MiFID is the Markets in Financial Instruments Directive and has been in force across the EU since late 2007. The MiFID sets out: Conduct requirements for businesses and investment firms; Authorisation requirements for regulated markets; Regulatory reporting to avoid market abuse; Trade transparency obligations for shares; and Rules regarding the admission of financial instruments to trading. … Continued

The importance of trust in Identity in the digital Age

As digital solutions become increasingly omnipresent, the importance of implementing mechanisms to establish trust in identity in the digital age increases too. Keeping our online identities safe is one side of the coin; keeping ourselves safe as we transact with faceless customers is the other. The complexity only increases when we consider the business transactions … Continued

History of the Legal Entity Identifier System

Prior to 2012, Legal Entity Identifiers (also known as LEI codes or numbers, or simply as LEIs) did not exist. Instead, each country used their own codes and systems to track financial transactions. The result of this is that it was nearly impossible to identify counterpart transactions within the global market. This meant that it … Continued