NSD Submits Documents for Accreditation as LOU
NSD is in the process of signing a master agreement with the Global Legal Entity Identifier Foundation (GLEIF) and is preparing to receive accreditation as the Local Operating Unit (LOU). Elena Ulianova, Project Manager/pre-LOU Manager, NSD, announced this news in her report at an event dedicated to the strategy of implementing Legal Entity Identifiers (LEIs) organized by NSD, in conjunction with GLEIF.
Among event participants who met the executives of the Legal Entity Identifier Regulatory Oversight Committee (LEI ROC) and GLEIF were representatives of various divisions of banks, depositories, brokerage companies, issuers, asset management companies, and other interested parties.
Gerard Hartsink, Chairman of the Board of Directors of GLEIF, Stephan Wolf, CEO of GLEIF, and Joseph Tracy, Chairman of the LEI ROC, presented up-to-date information about the development strategy of the Global Legal Entity Identifier System (GLEIS). The audience expressed great interest in news about LEI database information content expansion planned by GLEIF via the inclusion of Level 2 data which will allow for the identification of legal entities’ parental and subsidiary companies via LEIs and connections established between them. According to Ms. Ulianova, NSD follows GLEIF requirements and is working on implementing these innovations and collecting appropriate information.
The presentation of Elizaveta Danilova, acting Director of the Financial Stability Department of the Bank of Russia, was focused on the outlook of LEI usage in the country.
NSD has functioned as a pre-LOU since 2013. In 2016, NSD assigned 136 new LEIs; thus, the number of serviced codes increased 20% (to 835 LEIs). For this period, 407 LEIs were verified.