The introduction of the Legal Entity Identifier (LEI) — a 20-digit, alpha-numeric code that identifies legal entities — is a significant development for improving the transparency of commerce. On May 17, GLEIF is hosting a valuable workshop on the topics of identity management for legal entities, the role of LEI in customer and supplier relationship management, and the impact of emerging digital solutions.
Attending the workshop are the Global Legal Entity Identifier Foundation (GLEIF), members of the LEI Regulatory Oversight Committee (LEI ROC), and representatives from many industries. Nathan SooHoo, Business Development Manager at Trulioo, will join the first panel.
How to Verify Business Entities and Beneficial Owner(s) of a Company
In today’s interconnected world, interoperability across transactions is essential to conducting business from processing payments, to managing supply chain risk, to satisfying regulatory compliance. How do companies ensure their financial transactions with other businesses and legal entities are trusted? What gaps exist in identity management for legal entities and how are they being addressed? This GLEIF panel will explore answers to those questions.
Panel Topic: How do you know with whom you are doing business?
When: May 17, 11:05 a.m. - 11:50 a.m.
- Abbas Ali, Associate Director, Identity Partner Solutions, R3
- Robert Beideman, Senior Vice President – Solutions and Innovation at GS1
- Jas Randhawa, Director - Financial Crimes Advisory Services at PricewaterhouseCoopers
- Nathan SooHoo, Business Development Manager at Trulioo
- Melissa Strait, US Compliance Officer for Stripe
[Moderator] Clare Rowley, Head of Business Operations at the Global Legal Entity Identifier Foundation (GLEIF)
The workshop will provide participants with a unique opportunity to learn about and exchange views on:
- Upcoming regulatory initiatives relevant to entity identification in the digital age.
- How to streamline entity verification processes to increase operational efficiencies and cost savings based on global standards.
- New models such as blockchain and distributed ledger technology for managing entity identification and how the LEI can support these new models.
- Opportunities to combine entity identification with standards such as digital certificates to lower change and integration costs on the client side.
- Benefits resulting from embedding standardized legal entity information into products.
This one-day, invitation only event gathers regulators as well as solution providers concerned with: developing products and services designed to support customer relationship management; due diligence relevant to know your customer; and know your supplier and digital IDs.
Workshop participants can expect an engaging discussion on how easier counterparty identification will drive forward automation and digitization of financial and commercial transactions to enable smarter, less costly and more reliable decisions about who to do business with.
GLEIF Identity Management Workshop
Implementing the Global Standard for Identities
Grand Hyatt San Francisco
345 Stockton St
San Francisco, CA 94108
GLIEF is a supra-national not for profit organization tasked to ensure the operational integrity of the Global LEI System. The LEI ROC represents public authorities from around the globe that have come together to jointly drive forward transparency within the global financial markets.