On December 2, the UK Financial Conduct Authority (FCA) updated its website on the revised Markets in Financial Instruments Directive (MiFID II) to include a new section on transaction reporting and legal entity identifiers (LEI Update) under MiFID II. The LEI Update sets out the function and purpose of an LEI, and clarifies that from
CFTC Extends DTCC-SWIFT’s LEI Provider Designation
By Kevin M. Foley & Stanley V. Polit on
Posted in CFTC, Derivatives
On July 21, the Commodity Futures Trading Commission published in the Federal Register an order to extend for an additional year the CFTC’s designation of the Depository Trust and Clearing Corporation and Society for Worldwide Interbank Financial Telecommunications joint venture (DTCC-SWIFT) as the provider of legal entity identifiers (LEIs). Such LEIs are used by registered entities and swap counterparties subject to the CFTC’s jurisdiction to comply with the swap data recordkeeping and reporting obligations set forth in Parts 45 and 46 of the CFTC’s regulations. This order supersedes a July 17, 2015 order (2015 Order) which extended DTCC-SWIFT’s designation as the LEI provider during the continued transition to a fully operational global LEI system. (For a more complete discussion of the aforementioned order, see the July 24, 2015 edition of Corporate & Financial Weekly Digest.)
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