KYC - customer identification using LEI code - American LEI
Important notice: from 13th April 2021 LEI is mandatory for non-EU (third country) issuers under SFTR regulation

News – KYC

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

Regulatory Use of Legal Entity Identifiers. The LEI Regulatory Oversight Committee (LEI ROC)

The potential regulatory benefits associated with a global framework for financial transactions was recognised as early as 20 years prior to the 2008 financial crisis. Prior to the implementation of the Global LEI System, each country was responsible for implementing their own framework to track financial transactions. The ad hoc nature of the previous system … 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