September 26, 2021

Volume XI, Number 269

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September 24, 2021

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LEI ROC Consults on Changes to Technical Guidance on Harmonization of Critical OTC Derivatives Data Elements

On May 5, the Legal Entity Identifier Regulatory Oversight Committee (LEI ROC) published a consultative document on changes to the technical guidance on the harmonization of critical over-the-counter (OTC) derivatives data elements (CDE Technical Guidance).

The LEI ROC’s proposed amendments to the CDE Technical Guidance relate to the implementation of the guidance by jurisdictions. The proposed amendments do not intend to change the substance of data elements in the guidance but are introduced to:

  • eliminate factual errors and typos;

  • align the format specifications with the ISO 20022 standard; and

  • better clarify the content of the elements by avoiding ambiguities.

LEI ROC indicates that this consultative document is part of a two-step process to revise the CDE Technical Guidance. Once it has made amendments to the jurisdictional implementation, it intends to revise the guidance on issues such as the list of allowable values and the list of harmonized data elements.

The deadline for responses is May 26.

The LEI ROC’s consultative document.

©2021 Katten Muchin Rosenman LLPNational Law Review, Volume XI, Number 127
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About this Author

Carolyn H. Jackson, International Attorney, Katten Muchin law firm
Partner

Carolyn Jackson is a partner in Katten Muchin Rosenman UK LLP and is a Registered Foreign Lawyer. She provides US financial regulatory legal advice to a broad range of market participants, including commercial banks, investment banks, investment managers, broker-dealers, electronic trading platforms, clearinghouses, trade associations and over-the-counter derivatives service providers.

Carolyn guides clients in the structuring and offering of complex securities, commodities and derivatives transactions and in complying with US securities and commodities laws...

+44 0 20 7776 7625
Nathaniel Lalone, Katten Muchin Law Firm, Financial Institutions Attorney
Senior Associate

Nathaniel Lalone, a partner at Katten Muchin Rosenman UK LLP, has a broad range of experience in the regulation of financial products and financial markets, and frequently provides regulatory and compliance advice to trading venues, clearing houses and buy-side firms active in the over-the-counter (OTC) derivatives, futures and securities markets. He is actively involved in advising clients on the implementation of MiFID 2 and MiFIR in the European Union as well as the international reach of US financial services regulation. He also has significant experience with structuring...

+44 0 20 7776 7629
Neil Robson, private equity fund managers counselor, Katten Law Firm, London
Partner

Neil Robson, a regulatory and compliance partner with Katten Muchin Rosenman LLP, focuses his practice on counseling hedge and private equity fund managers and other investment advisers on operational, regulatory and compliance issues. He regularly addresses Financial Conduct Authority (FCA) and EU authorization and compliance under both the EU Alternative Investment Fund Managers Directive (AIFM Directive) and MiFID, cross-border issues in the financial services sector, market abuse, anti-money laundering and regulatory capital requirements, formations and buyouts of...

44-0-20-7776-7666
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