Financial Regulations

/Financial Regulations

LEI: Stronger Foundation Needed

It might seem crazy to argue with SIFMA president and CEO Kenneth Bentsen Jr. writing to Treasury Secretary and FSOC Chair Jacob Lew advocating a wider regulatory mandate for Legal Entity Identifiers, but here goes.

Of course a wider regulatory mandate will increase and accelerate adoption.  If regulators worldwide grabbed their sticks and lightning bolts […]

Alacra Compliance Primer – Positive Developments on Beneficial Ownership

It is widely accepted that illicit actors continue to create legal entities, masking beneficial ownership information in order to facilitate access to the financial system and conduct financial crimes. A number of developments have recently occurred that may help the United States make progress on requiring the identification of beneficial ownership of businesses and accountholders… […]

Robust Onboarding is Key to Customer Classification Compliance Under MiFID, FATCA and EMIR

As the push for transparency continues to evolve under MiFID, FATCA and EMIR, robust onboarding practices that comprehensively capture key attributes of each client, owner and counterparty will be needed to meet reporting requirements for customer classification.  These regulatory schemes nudge existing AML/KYC systems into the realm of tracking client sophistication and understanding the […]

Positive Developments on Beneficial Ownership

It is widely accepted that illicit actors continue to create legal entities, masking beneficial ownership information in order to facilitate access to the financial system and conduct financial crimes. A number of developments have recently occurred that may help the United States make progress on requiring the identification of beneficial ownership of businesses […]

Alacra Reference Data Alert – Inside the LEI – Issue II

A few weeks ago Alacra published Inside the LEI, which focused on the entities that had received pre-LEIs from the four largest pre-LOUs: the DTCC’s GMEI utility in the United States, the London Stock Exchange in the UK, WM Datenservice in Germany and INSEE in France. This update includes information from two additional pre-LOUs: the […]

Alacra Reference Data Alert – Inside the LEI

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 […]

Number of LEIs Issued to the Top 10 Largest Global Banks

03-Number-of-LEIs-Issued-to-Top-10-Largest-Global-BanksWhen 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 […]

By |March 4th, 2014|Business & Finance, Financial Regulations, Posts, Reference Data|

Inside the LEI

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 […]

By |March 4th, 2014|Financial Regulations, Posts, Reference Data|

Regulatory Roundabout

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 […]

By |February 19th, 2014|Financial Regulations, Legal Entity Identifiers, Posts, Reference Data|

How Technology Can Help On-Boarders Acquire and Understand Beneficial Ownership Information

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 […]