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Inside the LEI – Issue IX

In this edition of Inside the LEI we assess the penetration of the LEI among important financial market participants, such as regulated entities and subsidiaries of the largest banks. We also look at the continued growth and  distribution of LEI issuance globally, and the latest statistics on lapse rates.

In the last quarter, the LOUs issued a little over […]

Inside the LEI – Issue VIII

As we enter 2016, almost 100,000 of the LEI registrations have not been renewed— meaning that close to 24% of the total LEI universe have lapsed…As issuance of LEIs to entities that are active in the financial markets grows (as evidenced by them being rated, regulated and/or listed) we expect the LEI lapse rate to […]

Alacra Reference Data Alert – Inside the LEI – Issue VII

The LOUs continue to issue around 20,000 LEIs a quarter, taking the total number of LEIs assigned to around 385,000. This growth continues to be driven by a small number of LOUs with over 80% of the LEIs have been issued by only 4 LOUs – GMEI (US), WM Datenservice (Germany), London Stock Exchange (UK) […]

Alacra Reference Data Alert – Inside the LEI – Issue VI

Currently, more than 360,000 entities have been assigned an LEI. Over 25,000 of those have been newly assigned since our last review in March 2015. Alacra’s current analysis indicates that, while the number of registered entities has increased, quality and utility issues within the database have increased as well. At this point, over 70,000 of […]

Alacra Reference Data Alert – Inside the GIIN – Issue I

Like our popular “Inside the LEI” series, Alacra’s latest Reference Data Alert goes”Inside the GIIN” to detail this identifier and the universe it covers.

The GIIN or Global Intermediary Identifier Number is issued by the IRS to foreign financial institutions (FFIs) as part of the Foreign Account Tax Compliance Act (FATCA). The goal of FATCA is […]

Alacra Reference Data Alert – Accelerating LEI Adoption – An Idea from the Edge

None of the benefits that could be gleaned from the establishment of the Legal Entity Identifier have been realized and there is no evidence that the status quo will change anytime soon. To jumpstart the adoption and usefulness of the LEI, regulators must mandate the world’s largest financial institutions register or pay them to comply.

Recently, […]

Alacra Reference Data Alert – Inside the LEI – Issue V

Recent conversations with executives close to the GLEIF (Global Legal Entity Identification Foundation) revealed an underlying conflict in the creation of the LEI database. The LEI registration process and data collection activities are being optimized for three constituencies: the regulators, the registrants, and the Local Operating Units (LOUs). However, a fourth constituency, equal in importance […]

Alacra Reference Data Alert – Inside the LEI – Issue IV

When we last published Inside the LEI in May there were 13 pre-Local Operating Units (LOUs) and about 237,000 entities that had been assigned an LEI. Six months later, there are 19 pre-LOUs and over 311,000 entities have been assigned an LEI. That’s an increase in entities covered of 37%. Our analysis in the spring […]

Alacra Compliance Primer – Enforcement Actions for U.S. Sanctions Violations Offer Lessons for Compliance

Barbara Keller, CAMS, CFCS, and former Deputy Associate Director for Compliance and Enforcement for FinCEN, has written a new Alacra Compliance Primer which details the evolution of several of the most significant cases of U.S. sanctions violation cases, some of which also included penalties for AML violations. Recent actions have been taken primarily against foreign […]

Alacra Compliance Primer – 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 purposes […]