October 27, 2021

Volume XI, Number 300

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October 27, 2021

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ESMA AND FCA Issue Statements on LEIS

In advance of the implementation date for MiFID II on 3 January 2018, ESMA has issued a public statement that provides a form of 6 month transitional period for certain trading venues and certain legal persons, to support the introduction of Legal Entity Identifier (LEI) requirements.  This includes provision that trading venues whose non-EEA issuer clients do not yet have LEIs will be able to use their own LEIs instead during this period.

The FCA responded to the ESMA statement by confirming that they would be amending and applying their rules accordingly, but encouraging all firms to ensure they are using LEIs at the earliest opportunity.

Copyright © 2021 Womble Bond Dickinson (US) LLP All Rights Reserved.National Law Review, Volume VII, Number 354
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About this Author

Roseyna Jahangir attorney Womble London
Attorney

Roseyna is a member of the financial services team. She works with clients ranging from banks and insurers to new entrants to the markets and companies for whom financial services are non-core activities; she assists clients in achieving their commercial objectives while operating within and complying with the applicable regulatory requirements. 

Roseyna provides practical advice and assistance on a broad range of financial services issues, including the requirements of the Financial Services and Markets Act and the Consumer Credit Act and...

+44 (0)20 7788 2377
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