MiFID II: Meeting the Requirement for Legal Entity Identifiers (LEIs)

DataManagementReview.comNovember 14, 2017

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Welcome to A-Team Group’s webinar

MiFID II: Meeting the Requirement

for Legal Entity Identifiers (LEIs)


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A recording of this webinar can be found at:

http://resource.datamanagementreview.com/webinar-recording-mifid-ii-lei-

nov2017

http://resource.datamanagementreview.com/webinar-recording-mifid-ii-lei-nov2017


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Moderator:

Sarah Underwood, Editor, A-Team Group


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Panel Member: Robin Doyle, Managing Director,

Office of Regulatory Affairs, J.P. Morgan

Areas of Expertise:

• Industry leader and active participant

in LEI development since 2010

• Chair of GFMA LEI working group

• GLEIF board member since 2014


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Panel Member: Jim Fertitta, Vice President,

Global Head of Entity Management

Operations, Goldman Sachs

Areas of Expertise:

• Responsible for global client and firm legal entity

management as well as bank holding company

regulatory reporting

• 20 years of industry experience, the majority of the

time spent in New York and the past six years in

Salt Lake City, Utah.


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Panel Member: Eugene Ing, Executive Director,

Data Services, DTCC

Areas of Expertise:

• Product manager for the GMEI, the largest LOU

in the global LEI system

• Managed GLEIF accreditation and various GLEIF

standards implementations including Level 2

• Over 20 years of financial services experience


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Panel Member: Tony Freeman, Executive Director,

Industry Relations, DTCC

Areas of Expertise:

• Clearing, settlement and trade reporting

• Global regulatory initiatives and EU legislation on

cybersecurity, fintech, blockchain/DLT and cloud

computing

• Market infrastructure, middle-office, trade

processing and STP


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Panel Member: Matthew Chan, Head of Product and

Strategy, Institutional Trade Processing, APAC, DTCC

Areas of Expertise:

• Commercial oversight of a number of key DTCC

businesses in Asia Pacific including DTCC post-trade

processing services and GMEI services in the Asian

region

• Working with the broker, investment manager and

custodian segments across Asia, including key

markets in Hong Kong, Japan, Australia and

Singapore as well as less mature markets

• Additional focus on fintech in the Asian region


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MiFID II regulatory requirement for Legal Entity Identifiers (LEIs)

LEI adoption in the run up to MiFID II – are we nearly there yet?

Expected regulatory approaches to the No LEI, No Trade rule

Challenges of the MiFID II mandate for LEIs and how to address them

How will providers ensure they can meet the rush to obtain LEIs

Identifying and renewing lapsed LEIs to ensure compliance

Implications of varying LEI adoption rates in different global regions

Benefits of the LEI beyond MiFID II regulatory compliance

Talking Points


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Key elements of MiFID II that must be addressed

using an LEI

• Identifying clients,

counterparties

and issuers

• Pre-and post trade

reporting

• Transaction reporting


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The state-of-play on LEI adoption. Should this be

a concern at this stage in the run up to MiFID II

compliance?

• LEIs issued: 730,215 (up from

566,596 In mid September)

• Number of Local Operating

Units (LOUs) in the global LEI

system: 30


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To what extent do you expect regulators to enforce

the No LEI, No Trade rule?


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Data management challenges presented by the

MiFID II requirement for LEIs

Understanding the requirement

Obtaining necessary LEIs

Integrating and mapping LEIs

Identifying incomplete data

Keeping LEI data up to date


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Approaches to LEI challenges with only six weeks

to go until the MiFID II compliance deadline


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How will LOUs issue all requested LEIs in the rush to

obtain the identifiers before the MiFID deadline?


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How firms are ensuring their clients, counterparties

and issuers are obtaining required LEIs


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Approaches to lapsed LEIs and how to make sure

they are renewed and updated


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Issues with LEI data accuracy and the problems

this can create


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The implications of varying LEI adoption rates

in different global regions


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Looking forward, potential benefits of the LEI

beyond MiFID II compliance

• More consistent entity data

• Operational efficiences

• Improved risk management

• Better customer service

• New business opportunities


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Thank you to our sponsor

Contact:

To learn more about the GMEI Utility and how we are

helping clients prepare for MiFID II please visit

www.gmeiutility.org/mifid2 or contact us directly with

questions via [email protected].


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Upcoming A-Team Group Events

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November 16th – RegTech Summit for Capital

Markets, New York City


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Upcoming A-Team Group Webinars

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November 21st – How to apply emerging technologies to data management

November 30th – To be MiFID II or not to be? Approaches for 2018 and who is

ready?

December 12th – Data management requirements for the 2018 regulatory

agenda


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Data & Analytics

MiFID II: Meeting the Requirement for Legal Entity Identifiers (LEIs)