The Financial Stability Board has abandoned plans for a global registration authority for Legal Entity Identifiers in favour of a federated network, dealing a hammer blow to the ambitions of interbank messaging network Swift to play a central role in the roll out of the new standards.
I think this is a very sensible decision that should allow faster roll out of LEI globally though various product and market silos. SWIFT still has a huge part to play and certain that they will step up to the plate. In my mind LEIs are far too important
to stay with one authority. Now i hope to see fast lift off
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