When Lehman Brothers went bankrupt it had over 7000 legal entities in over 40 countries. So it seems from this chart that the large global banks have a long way to go before a high proportion of their legal entities are registered. Not surprisingly, the large Asian banks have been slow to register their legal entities.
Alacra has been integrating the pre-LEI data files from the endorsed pre-LOUs as the data has been published. In response to customer demand we have been adding these entities to the Alacra Authority File, our reference database that previously contained only rated, regulated and listed companies globally. Although there are many use cases for the Alacra Authority File, the most common are to facilitate entity iden
What’s a financial institution to do? The global regulatory bus hurtles down the road with a changing roster of drivers and a long list of destinations. On both sides of the Atlantic, regulators are mandating the use of LEIs – Legal Entity Identifiers – in trade reporting. The CFTC mandate began last year and the EMIR mandate began last week. A wider European mandate by the EBA is around the corner. Never mind th
In September we posted Upcoming Changes to KYC Beneficial Ownership Regulatory Requirements – A Primer, which outlined how different regulatory regimes were going to require more and more accurate beneficial ownership information. This post spurred several conversations with KYC practitioners, many of whom asked how technology might help with the beneficial ownership burden. Last Thursday I was on a panel at the AC
Financial institutions around the world are subject to an increasingly rigorous regulatory framework. While much of the overwhelming regulatory environment is a result of the financial crisis, another set of regulations emanate from concerns about corruption. These sets of regulations are driving banks to have a greater understanding of all their third-party relationships, both to protect banking customers from the
The past few years there has been no limit to the number of bullish projections for M&A activity for the coming year. Most of these forecasts cited low interest rates and the tremendous amount of cash on corporate balance sheets as reasons for an improved M&A climate. As can be seen from the mergermarket chart below, these forecasts have been overly optimistic. Deal activity has been mostly flat and deal v
Early this year I posted 10 Forecasts for 2013 M&A Activity. Here are just a few of the more bullish quotes from the prognosticators: “The fundamentals for sustained M&A activity on 2013 are solid…” “…these numbers (2012) should rebound behind the strength of strategic buyers, the emerging markets, and the energy sector.” “…a unique set of factors has coalesced to form a “perfect storm” of M&A activity;