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LEI News & Insights

Regular news, updates and blog posts including 
regulatory updates and notifications for LEI requirements. 

How to efficiently manage large volumes of LEI Data

4/1/2022

2 Comments

 

Struggling to manage and match in-house data with LEI data?

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Legal Entity Identifier reporting can become rigorous and time consuming when dealing with thousands or even hundreds of thousands of entities. Matching in house entity data with their corresponding LEIs is disproportionately time consuming, risky and cost-inefficient.

LEI reporting is currently regulated and checked globally. There are over 116+ mandates requiring the LEI globally. Commonly, large financial institutions such as financial intermediaries, banks, and specialists in Regulatory Compliance are required to match their in house data with what is on the global LEI index.

​Luckily, there is a solution which will save time, effort, resources and money. 

LEI Smart Matching

With our new service 'LEI Smart Match' our professional analysts will use our expertly engineered text matching algorithms to quickly sort through swathes of data mapping out where the pitfalls are and what is good to go, allowing your regulatory compliance professionals sleep at night. 

Organisations with high volumes of Entity Data such as FIs can find it very strenuous and challenging to map out in-house entity data to existing LEI data. Smart Match uses advanced text matching algorithms to improve match rates and speed the process.
​
lei mapping

Conduct an LEI Check Up or LEI Audit

An LEI audit is an annual checkup for your data Just like a yearly car service provides insights into your motors health, an LEI audit offers insights into the health (i.e., accuracy) of your legal entity data.

Like a car service, an audit consists of diagnostic tests and procedures to determine if everything’s okay with your data. An LEI audit not only detects problems, but it also corrects them.

The 20 character LEI ID is static, but the data it references changes. Events such as:
  ❗️merger, acquisition, bankruptcy or dissolution
  ❗️legal name change
  ❗️address or jurisdiction change
  ❗️overdue renewals of your firm’s own LEIs

These all result in critical LEI data updates. Not updating your in-house data to reflect these changes will lead to operational errors and the submission of inaccurate transaction reports to regulators. This can lead to fines or financial penalties. 

​In the case of managing LEI data correctly an ounce of prevention is worth more than a pound of cure. An LEI audit typically pays for itself several times over and gives you one less thing to worry about.
LEI CheckUp
LEI AUDIT
LEI Smart match
lei data
2 Comments
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16/10/2022 04:17:30

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Reply
Divya Jain link
21/11/2022 00:11:15

Statutory Audit Procedure is done annually by auditing accounts and transactions to manage risks, CA Divya can help you with Statutory audit services.

Reply

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​Facilitating the global allocation of LEI numbers.

​​LEI Worldwide facilitate entity identification in the global financial system, capital markets and private sector. We make the process accessible and simple for Legal Entities to obtain Legal Entity Identifier numbers. By doing this we help facilitate the global allocation of LEI numbers. It is our mission to be the one point of contact globally between Legal Entities & LOU’s and ensuring the LEI becomes the Worlds most important identifier.

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  • Home
  • LEI REGISTRATION
    • Update an LEI
    • Transfer an LEI
  • Resources
    • KNOWLEDGE CENTRE
    • LEI INFO
    • LEI Statistics
    • LEI Data Matching
    • LEI Regions Supported
  • Become a Partner
  • News & Insights
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