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Title: The global legal entity identifier system: How can it deliver?
Authors: Chan, Ka Kei
Milne, Alistair
Keywords: Big data
Data standards
Entity identifiers
Macroprudential policy
Risk management
Dodd-Frank Act
Operational efficiency
Systemic risk
Issue Date: 2019
Publisher: © The Authors. Published by MDPI AG
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.
Abstract: 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.
Description: 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/
Sponsor: 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.
Version: Published
DOI: 10.3390/jrfm12010039
URI: https://dspace.lboro.ac.uk/2134/37114
Publisher Link: https://doi.org/10.3390/jrfm12010039
ISSN: 1911-8066
Appears in Collections:Published Articles (Business)

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