Understanding the Importance of LEI in the Financial Industry

The number of companies that are being formulated is always growing by the day. This has largely been contributed by technological advancement and increased connectivity among businesses and individuals alike. To facilitate transparency in business transactions, the leaders of G20 agreed to formulate a system in which entities can be easily identified. Thus, they adopted a system known as Legal Entity Identifier (LEI), which uniquely distinguishes the companies that transact in the capital markets and on a global scale. LEI has now become a requirement for business operations in many jurisdict…

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HEDGE accordingly