EMIR REFIT Compliance: Introducing our LEI Watchlist Service

As the European Market Infrastructure Regulation (EMIR) undergoes its latest evolution with the introduction of EMIR REFIT on April 29, 2024, financial institutions across the EU are getting ready to meet the revised regulatory standards.

EMIR REFIT, a vital component of the European Commission’s “Better Regulation” initiative, aims to enhance transparency, mitigate risk, and streamline reporting obligations in financial markets. 

Under EMIR REFIT, significant changes have been made to reporting obligations, alongside tighter controls and standardization measures. Notably, the number of reporting fields has increased from 129 to 203, while the format of data transmission will now adhere to the ISO 20022-XML standard. These changes emphasize the EU’s commitment to strengthening market resilience and reducing systemic risk. 

One crucial aspect of EMIR REFIT compliance revolves around Legal Entity Identifiers (LEIs). Financial institutions are mandated to ensure timely renewal of LEIs associated with their counterparties. This necessitates proactive management to prevent trading disruptions due to lapsed LEIs. 

To help organizations in meeting these new requirements, we are excited to introduce our LEI Watchlist Service. Tailored for banks, asset managers, and large organizations, our service offers a comprehensive solution to easily comply with the EMIR REFIT. 


Key Features of our LEI Watchlist Service

Streamlined Monitoring 

Our user-friendly interface allows you to monitor LEIs of interest with ease. Effortlessly navigate through your watchlist and stay informed about the status of critical LEIs. 

Automated Renewal Reminders 

Our system offers automated co-branded renewal reminders, ensuring continuous compliance without the hassle of oversight. 

Efficient Data Management 

Seamlessly import and export lists of LEIs directly through our platform. Simplify data integration with existing systems and enhance overall efficiency in compliance management. 

Real-time Updates 

Receive instant updates on the status of LEIs you are monitoring. Our system fetches and integrates the latest data from the Global Legal Entity Identifier Foundation (GLEIF) in real-time, ensuring you have access to the most accurate and up-to-date information. 

Within a regulatory framework emphasizing compliance, our LEI Watchlist Service enables organizations to meet EMIR REFIT obligations. By centralizing LEI management and offering intuitive tools for monitoring, we enable seamless adherence to regulatory standards. 

As the deadline for EMIR REFIT implementation is just around the corner, it’s essential for financial institutions to take proactive steps towards compliance.

Our LEI Watchlist service stands ready to support your organization in navigating these regulatory changes effectively.   

You can read more about the updated requirements related to the LEI in the new EMIR REFIT reporting guidelines published by ESMA here

For a demonstration of our LEI Watchlist Service and to discuss your EMIR REFIT readiness, please contact us today.

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