mifid ii: meeting the requirement for legal entity identifiers (leis)
TRANSCRIPT
DataManagementReview.comNovember 14, 2017
FROM
Welcome to A-Team Group’s webinar
MiFID II: Meeting the Requirement
for Legal Entity Identifiers (LEIs)
DataManagementReview.comNovember 14, 2017
FROM
Join the
Data Management Review Online Community
Data Management Review is your single destination for knowledge and resources covering data management
approaches, trends and challenges as well as all the regulations impacting financial data management for the
enterprise.
Join our 15,000 other members - it’s entirely free to join!
Sign up at http://bit.ly/signupforDMR
Membership entitles you to free access to expert unbiased commentary.
We deliver:
Regular weekly updates on the latest news and views
Blogs and commentary
White papers
Surveys and research
Data management handbooks
Events
Webinars
Awards
DataManagementReview.comNovember 14, 2017
FROM
A recording of this webinar can be found at:
http://resource.datamanagementreview.com/webinar-recording-mifid-ii-lei-
nov2017
DataManagementReview.comNovember 14, 2017
FROM
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
DataManagementReview.comNovember 14, 2017
FROM
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.
DataManagementReview.comNovember 14, 2017
FROM
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
DataManagementReview.comNovember 14, 2017
FROM
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
DataManagementReview.comNovember 14, 2017
FROM
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
DataManagementReview.comNovember 14, 2017
FROM
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
DataManagementReview.comNovember 14, 2017
FROM
Key elements of MiFID II that must be addressed
using an LEI
• Identifying clients,
counterparties
and issuers
• Pre-and post trade
reporting
• Transaction reporting
DataManagementReview.comNovember 14, 2017
FROM
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
DataManagementReview.comNovember 14, 2017
FROM
To what extent do you expect regulators to enforce
the No LEI, No Trade rule?
DataManagementReview.comNovember 14, 2017
FROM
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
DataManagementReview.comNovember 14, 2017
FROM
Approaches to LEI challenges with only six weeks
to go until the MiFID II compliance deadline
DataManagementReview.comNovember 14, 2017
FROM
How will LOUs issue all requested LEIs in the rush to
obtain the identifiers before the MiFID deadline?
DataManagementReview.comNovember 14, 2017
FROM
How firms are ensuring their clients, counterparties
and issuers are obtaining required LEIs
DataManagementReview.comNovember 14, 2017
FROM
Approaches to lapsed LEIs and how to make sure
they are renewed and updated
DataManagementReview.comNovember 14, 2017
FROM
Issues with LEI data accuracy and the problems
this can create
DataManagementReview.comNovember 14, 2017
FROM
The implications of varying LEI adoption rates
in different global regions
DataManagementReview.comNovember 14, 2017
FROM
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
DataManagementReview.comNovember 14, 2017
FROM
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].
DataManagementReview.comNovember 14, 2017
FROM
Upcoming A-Team Group Events
Visit DataManagementReview.com/events
November 16th – RegTech Summit for Capital
Markets, New York City
DataManagementReview.comNovember 14, 2017
FROM
Upcoming A-Team Group Webinars
Visit webinar section of
Datamanagementreview.com
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