ESMA and SWIFT say system of legal-entity identifiers is key

03/21/2012 | Risk.net (subscription required)

Officials at the European Securities and Markets Authority and the Society for Worldwide Interbank Financial Telecommunication said adoption of a system of legal-entity identifiers is critical for trade repositories as they work toward regulatory compliance. Paul Janssens, SWIFT's LEI program director, said the system is moving forward and should be finalized by midyear.

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