EIOPA consults on the use of Legal Entity Identifier

The European Insurance and Occupational Pensions Authority (EIOPA) invites
market participants and all the other interested parties to provide their
feedback on its draft Guidelines related to the use of the Legal Entity
Identifier (LEI).

It has been recognised that the lack of a commonly used identifier has a
negative impact on the quality of data collection, storage and
dissemination, making these processes costly and less efficient for
national supervisors and EIOPA. The purpose of the current draft
Guidelines is to facilitate the use of LEIs as unique identification codes
for (re)insurance undertakings as well as for institutions for
occupational retirement provision.

With these Guidelines, EIOPA supports the adoption of the LEI system
proposed by the Financial Stability Board and endorsed by the G20. This
system aims at achieving a unique, worldwide identification of parties to
financial transactions.

The consultation will end on 29 August 2014. Please note that comments
submitted after the deadline or not submitted on the provided template
cannot be processed.

The consultation paper and the template for comments can be viewed here
(Link:
https://eiopa.europa.eu/consultations/consultation-papers/index.html#c6551 )


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