Treasury Issues FAQ Regarding Legal Entity Identifiers

The Treasury Department published a FAQ on its website providing some background on, and plans with respect to, the use of a Legal Entity Identifier ("LEI") system for identifying parties to financial transactions. While the use of LEIs has been most visible with respect to swap data reporting (where the CFTC is currently using an interim CICI system), the Treasury FAQ is a reminder of the government's intent to push, through work with various multinational groups, for the use of LEIs more broadly. The Treasury FAQ indicates that it intends to have an LEI system launched by next month.

Click here to view FAQ in full (links externally to Treasury website).