A crisis of identity, part two
It has taken a long time to build support for a system of legal entity identifiers – but now progress is being made, it is important to get the system right, argues David Rowe
It was almost 10 years ago that I devoted this column to the disturbing lack of clarity concerning the specific reference entities underlying credit default swaps (Risk July 2002, page 37, www.risk.net/1497414). The wheels of progress turn slowly but, at long last, there is some movement.
The Office of Financial Research within the US Treasury has been spearheading an effort to establish a standard legal entity identifier (LEI), and at its summit last November, the Group of 20 (G-20) nations
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