GFMA and Other Associations Submit Comments to the FSB on the Need for Mutual Acceptance and Interim Standards for Global LEI
7 June 2013
GFMA, the British Bankers Association (BBA), ISITC Europe, the International Swaps and Derivatives Association, Inc. and the Investment Industry Association of Canada (IIAC) provide comments to the Financial Services Board Chairman Mark Carney on the necessity for mutual acceptance and interim standards for a global legal entity identifier (LEI), in advance of the June 11-12 meeting of the LEI Regulatory Oversight Committee (ROC).
The industry is strongly supportive of a federated Global LEI System, and the benefits to financial stability that it would provide. For this goal to be met, the ROC must make important decisions to both Mutually Accept pre-LEIs, as well as develop robust standards for pre-LOUs, immediately.