Asia’s low LEI adoption threatens post-Mifid II inclusion

Author: Brian Yap | Published: 22 May 2017

Asian countries should speed up the issuance of legal entity identifiers (LEIs) in light of the Markets in Financial Instruments Directive (Mifid) II’s upcoming implementation in January 2017, has warned John Mason, global head of regulatory & market structure propositions at Thomson Reuters in London.  

Under the new Mifid II regime, investment firms and financial institutions executing transactions in financial instruments for their clients will be required to include their clients’ LEIs in transaction reports filed with competent authorities.

But Mason, speaking at Thomson Reuters’ Asia-Pacific Buyside Summit on May 2017, expressed concerns about the significantly low issuance of LEIs in Asia to date. He pointed out that while about 500,000 LEIs have been created globally to date, only 10,000 of them have been issued in Asia.

"Asia is definitely delinquent, if I can use that word, in terms of the number of...