The FCA has updated its MiFID II – Legal Entity Identifier (LEI) update web page.
The FCA refers to a statement that the European Securities and Markets Authority (ESMA) issued on 20 December 2017 outlining temporary measures in respect of the LEI for clients that are legal persons and for issuers. The FCA explains that the approach described in ESMA’s statement requires it to amend the LEI validation rule in its Market Data Processor (MDP). The FCA had communicated to the industry that the change would not be possible before 3 January 2018 and further information would be provided in due course regarding the date when it would make the change. The FCA now states that the amendment to the LEI validation rule will be implemented in the MDP on 10 March 2018 and firms should (re)submit from 12 March 2018 any outstanding transaction reports where the trade date precedes the LEI registration date.
View MiFID II – Legal Entity Identifier (LEI) update, 2 February 2018