Guiding Document for the Transition Period Overview of transition timeline and action items Transition Overview
Phase 1 (before March 2022) From May to December 2021, GLEIF will publish updates to all code lists to accommodate the ROC policy implementations. This includes the Registration Authorities List, Entity Legal Form Code List, and the GLEIF Accepted Jurisdictions Code list. Phase 2 Transition period (March 1, 2022 to March 31, 2022) Newly added/updated fields and values During Phase 2, users will need to create new scripts for processing LEI and LEI reference data if these data elements are used for monitoring or reporting. Importantly, LEI Issuers will deliver to GLEIF LEI reference data in either LEI-CDF 2.1, RR-CDF 1.1, Reporting Exceptions format 1.1 or LEI-CDF 3.1, RR-CDF 2.1 and corresponding Reporting Exceptions format 2.1. Users of the Global LEI Repository will only receive information in LEI-CDF 3.1, RR-CDF 2.1 and Reporting Exceptions format 2.1 formats. Therefore, it is important that users convert fully to the new XML format as of March 1, 2022. The remainder of this section describes how users will need to adjust their consumption of the Global LEI Repository to accommodate this Phase 2. Data Field ds/lei:LEIRecord RESIDENT GOVERNM | INTERNATIONAL ORGANIZATION and GENERAL in /lei:Entity/lei:EntityCatego | ENT _ENTITY, Entity Category field. ry INTERNATIONAL ORG ANIZATION and Two aspects need to be considered: GENERAL would affect users who have not 1. Government entities and international organizations adopted the new CDF are currently not identified. During Phase 2, some format. entities may be categorized with the new values, but there is no guarantee for all of them.
/lei:LEIData/lei: LEIRecords/ lei:LEIRecor d /lei:Entity/le i:SuccessorE ntity/lei:Suc cessorLEI /lei:LEIData/le i:LEIRecords/] ei:LEIRecord /lei:Entity/lei:S uccessorEntity/ lei:SuccessorE ntityName Relationship Type /rr:Relationshi | The newly added fund Allow IS FUND-MANAGED BY, IS SUBFUND_OF and pData/rr:Relati | relationship types could affect | IS FEEDER TO in Relationship Type field. onshipRecords | users who only track direct /rr:Relationshi | and ultimate parent pRecord information, international /rr:Relationshi | branch information or derive p/rr:Relationsh | relationship statistics from the ipType RR file. The deprecated field Associated Entity could affect users who previously track fund relationships with this field. Relationship /rr:Relationshi | The new value Allow GOVERNMENT ACCOUNTING STANDARD in Qualifier Category pData/rr:Relati | GOVERNMENT ACCOUN | Relationship Qualifier Category field. onshipRecords | TING_STANDARD could /rr:Relationshi | affect some users. pRecord /rr:Relationshi
-] N R ipQualifiers Exception Reason /repex:Reporti | Five exception reasons, Allow NON_PUBLIC in Exception Reason field. ngExceptionD | “BINDING LEGAL COM ata/repex:Repo | MITMENTS”, “LEGAL_ OB rtingException | STACLES”, S “DISCLOSURE DETRIME /repex:Excepti | NTAL”, on/repex:Exce | “DETRIMENT NOT EXCL ptionReason UDED” and “CONSENT _NOT_OBTAIN ED”, are consolidated into one exception reason “NON_PUBLIC”. The new value “NON_PUBLIC” would affect users who have not adopted the new CDF format. Transition Complete (April 1, 2023) From this date onward, all existing LEIs having a last renewal date greater than 1 April 2022 and all LEIs issued after this date will have complete government entity, fund relationships, and legal entity events data collected (as applicable)'. ! GLEIF is expecting to receive more information from the ROC regarding the required data collection for medium and low priority legal entity events.
Appendix : Deprecated fields? Associated Entity /let:LEIData/lei:LEIRecords/lei:LEIRecord/lei:Entity | The information will be consistently provided in the fund /lei: AssociatedEntity relationship related fields. /lei:LEIData/lei:LEIRecords/lei: LEIRecord/lei: Entity /lei: Associated Entity@type /lei:LEIData/lei:LEIRecords/lei: LEIRecord/lei: Entity /lei: AssociatedEntity/lei: Associated LEI /lei:LEIData/lei:LEIRecords/lei:LEIRecord/lei:Entity /lei: AssociatedEntity/lei: AssociatedEntityName /lei:Entity/lei:EntityExpirationDate Entity Events related fields. /lei:Entity/lei:EntityExpirationReason Entity Events related fields. 2 The deprecated fields will be blank only after the completion of Phase 3. During the transition, they are still available in the data. Data quality checks will be enforced to avoid discrepancies.
Data Field 2. During Phase 2, LEIs with empty entity category field and the ones exhibiting the value GENERAL shall be treated equally. Entity Status /lei:LEIData/lei:LEIRecor | The new status NULL Allow NULL in Entity Status field ds/lei:LEIRecord could affect some users as /lei:Entity/lei:EntityStatus | the NULL value will be During Phase 2, ANNULLED and DUPLICATE LEIs will applied to LEIs with a start exhibiting Entity Status NULL. The process lasts until all status of ANNULLED or | ANNULLED and DUPLICATE records have transferred their DUPLICATE, or for LEIs | Entity Status (from ACTIVE/INACTIVE to NULL). issued for a FUND entity in a jurisdiction (e.g., Spain), where the existence of an LEI is a prerequisite to be able to register the fund entity itself. Legal Entity /lei:LEIData/lei:LEIRecor | The newly added field Add Legal Entity Events Type field in database structure. Events Type ds/lei:LEIRecord/lei:Entity | would affect users who are | Value could be CHANGE LEGAL NAME, / tracking legal entity status | CHANGE OTHER NAMES, lei:LegalEntityEvents/lei:L | and entity expiration CHANGE LEGAL ADDRESS, CHANGE HQ ADDRESS, egalEntityEvent/ date/reason change and CHANGE LEGAL FORM, ACQUISITION BRANCH, lei:LegalEntityEventType | successor entities. TRANSFORMATION BRANCH TO SUBSIDIARY, TRANSFORMATION SUBSIDIARY TO BRANCH, TRANSFORMATION UMBRELLA TO STANDALONE, DISSOLUTION, BREAKUP, MERGERS AND ACQUISITIONS, DEMERGER, SPINOFF, BANKRUPTCY, VOLUNTARY_ ARRANGEMENT, INSOLVENCY, ABSORPTION or REVERSE TAKEOVER.
Data Field Please note that the legal entity events are grouped into three priority groups, and only events that are regarded as high priority by the Regulatory Oversight Committee (ROC) and data collection is expected to begin for the high priority events by March 31, 2022. The following events are considered as high priority events: CHANGE LEGAL NAME, CHANGE OTHER NAMES, CHANGE LEGAL ADDRESS, CHANGE HQ ADDRESS, CHANGE LEGAL FORM, ACQUISITION BRANCH, TRANSFORMATION BRANCH TO SUBSIDIARY, TRANSFORMATION SUBSIDIARY TO BRANCH, TRANSFORMATION UMBRELLA TO STANDALONE, DISSOLUTION. Medium priority legal entity events include: BREAKUP, MERGERS AND ACQUISITIONS, DEMERGER, SPINOFF. Low priority legal entity events include: BANKRUPTCY, VOLUNTARY_ ARRANGEMENT, INSOLVENCY, ABSORPTION, REVERSE TAKEOVER. LOUs can begin data collection for medium priority and low priority events before required by the ROC.
Data Field During Phase 2, users should consider entities that ceased to operate in Legal Entity Event Container as well as Entity Expiration Date and Entity Expiration Reason fields. Registration Status | /lei:LEIData/lei:LEIRecor | The deprecation of the Remove MERGED from the Registration Status field. Please ds/lei:LEIRecord “MERGED” status could | note the use of the Merger event in the deprecation of the /lei:Registration/lei:Registr | affect some users who Registration Status MERGED and the usage of the ationStatus track legal entity event DISSOLUTION event in the deprecation of Entity Expiration with this value which Date and Entity Expiration Reason. going forward will be represented by the During Phase 2, users should consider LEIs with MERGED RETIRED status. status to be equivalent to LEIs with Legal Entity Events Type being MERGERS AND ACQUISITIONS and Registration Status being RETIRED. Relationship Type | /rr:RelationshipData/rr:Rel | The newly added fund Allow IS FUND-MANAGED BY, IS SUBFUND_OF and ationshipRecords/rr:Relati | relationship types could IS FEEDER TO in Relationship Type field. onshipRecord affect users who only track /rr:Relationship/rr:Relation | direct and ultimate parent | During Phase 2, LEIs with Relationship Type IS FUND- shipType information, international | MANAGED BY should be treated equally as LEIs with branch information or Associated Entity Type being FUND FAMILY. derive relationship statistics from the RR file. The deprecated field Associated Entity could affect users who previously track fund relationships with this field. ationshipRecords/rr:Relati | could affect some users as
Data Field onshipRecord the NULL value will be During Phase 2, LEIs with Entity Status NULL should be /rr:Relationship/rr:Relation | applied to LEIs with a treated equally as LEIs with Registration Status ANNULLED shipStatus status of ANNULLED or | or DUPLICATE in RR. DUPLICATE, or for LEIs issued for a FUND entity in a jurisdiction (e.g., Spain), where the existence of an LEI is a prerequisite to be able to register the fund entity itself. Exception Reason | /repex:ReportingException | Five exception reasons, Allow NON_PUBLIC in Exception Reason field. Data/repex:ReportingExce | “BINDING LEGAL CO ptions MMITMENTS”, “LEGAL /repex:Exception/repex:Ex | OBSTACLES”, Exception reasons ceptionReason “DISCLOSURE DETRI | “BINDING LEGAL COMMITMENTS”, “LEGAL OBSTA MENTAL”, CLES”, “DISCLOSURE_DETRIMENTAL”, “DETRIMENT NOT EX | “DETRIMENT NOT EXCLUDED” and CLUDED” and “CONSENT_NOT_OBTAINED” will be deprecated by 1* “CONSENT NOT OBTA | April 2022. INED”, are consolidated into one exception reason “NON_PUBLIC”. The new value “NON_PUBLIC” would affect users who have not adopted the new CDF format.
Phase 3 (March 1, 2022 to March 31, 2023)
Reconciliation for existing data means that data will only become available at time of new LEI issuance or renewal of existing LEIs. Since the renewal cycle in the Global LEI System is one year, users cannot be sure that queries of the active and verified LEI population yield full information until end of March 2023.
Field
Entity Category /let:LEIData/le | The new values Allow RESIDENT GOVERNMENT ENTITY, i:.LEIRecords/l | RESIDENT GOVERNMEN | INTERNATIONAL ORGANIZATION and GENERAL in Entity ei:LEIRecord | T ENTITY, Category field.
/lei:Entity/lei:E | INTERNATIONAL ORGA
ntityCategory | NIZATION and GENERAL would affect users who have not adopted the new CDF format.
Entity Sub Category | /lei:.LEIData/le | The newly added field would | Add Entity Sub Category field in database structure. It applies to i:.LEIRecords/l | affect users who do not EntityCategory being RESIDENT GOVERNMENT ENTITY, and ei:LEIRecord | migrate to the new CDFs who | values could be STATE. GOVERNMENT,
/lei:Entity/lei:E | are taking in LEI data for LOCAL_ GOVERNMENT, or SOCIAL SECURITY. ntitySubCateg | Government Entities. ory
Entity Creation Date | /lei:LEIData/le | This newly added field could | Add Entity Creation Date field in database structure. i:.LEIRecords/l | affect users as this date will ei:LEIRecord/l | be included for each new LEI ei:Entity/ assigned as of the lei:EntityCreati | implementation of the new onDate CDFs.
Legal Entity Events | /lei:LEIData/le | The newly added field would | Add Legal Entity Events Type field in database structure. Value could Type i:.LEIRecords/l | affect users who are tracking | be CHANGE LEGAL NAME, CHANGE OTHER NAMES, ei.LEIRecord/l | legal entity status and entity | CHANGE LEGAL ADDRESS, CHANGE HQ ADDRESS, ei:Entity/ expiration date/reason change | CHANGE LEGAL FORM, ACQUISITION BRANCH, lei:LegalEntity | and successor entities. TRANSFORMATION BRANCH TO_SUBSIDIARY, Events/lei:Leg TRANSFORMATION SUBSIDIARY TO BRANCH, alEntityEvent/ TRANSFORMATION UMBRELLA TO STANDALONE, lei:Legal Entity DISSOLUTION, BREAKUP, MERGERS AND ACQUISITIONS, EventType DEMERGER, SPINOFF, BANKRUPTCY, VOLUNTARY ARRANGEMENT, INSOLVENCY, ABSORPTION or REVERSE TAKEOVER. Please note that the legal entity events are grouped into three priority groups, and only events that are regarded as high priority by the Regulatory Oversight Committee (ROC) and data collection is expected to begin for the high priority events by March 31, 2022. The following events are considered as high priority events: CHANGE LEGAL NAME, CHANGE OTHER NAMES, CHANGE LEGAL ADDRESS, CHANGE HQ ADDRESS, CHANGE LEGAL FORM, ACQUISITION BRANCH, TRANSFORMATION BRANCH TO SUBSIDIARY, TRANSFORMATION SUBSIDIARY TO BRANCH, TRANSFORMATION UMBRELLA TO STANDALONE, DISSOLUTION. Medium priority legal entity events include: BREAKUP, MERGERS AND ACQUISITIONS, DEMERGER, SPINOFF.
Low priority legal entity events include: BANKRUPTCY, VOLUNTARY_ ARRANGEMENT, INSOLVENCY, ABSORPTION, REVERSE TAKEOVER. LOUs can begin data collection for medium priority and low priority events before required by the ROC. Legal Entity Event | /lei:LEIData/le | See above. Add Legal Entity Event Effective Date field in database structure. Effective Date i:LEIRecords/] ei:LEIRecord/l ei:Entity/ lei:Legal Entity Events/lei:Leg alEntityEvent/] ei:/ lei:Legal Entity EventEffective Date Legal Entity Event | /lei:LEIData/le | See above. Add Legal Entity Event Recorded Date field in database structure. Recorded Date i:LEIRecords/] ei:LEIRecord/l ei:Entity/ lei:Legal Entity Events/lei:Leg alEntityEvent/ lei:Legal Entity EventRecorded Date Validation /lei:LEIData/le | Newly added values to this Add Validation Documents field in database structure. Documents i:.LEIRecords/l | field could affect some users. | Value could be ACCOUNTS FILING, REGULATORY FILING, ei:LEIRecord/l SUPPORTING DOCUMENTS, CONTRACTS or OTHERS. ei:Entity/
lei:Legal Entity Events/lei:Leg alEntityEvent/ lei:Validation Documents Validation Reference | lei:LEIData/lei | Newly added values to this Add Validation Reference values. ‘LEIRecords/le | field could affect some users. i:.LEIRecord/le i:Entity/ lei:Legal Entity Events/lei:Leg alEntityEvent/ lei:ValidationR eference Affected Field lei:LEIData/lei | The newly added field could | Add Affected Field field in database structure. ‘LEIRecords/le | affect some users if they do i:.LEIRecord/le | not have this field in system. i:Entity/ lei:Legal Entity Events/lei:Leg alEntityEvent/ lei: AffectedFie lds/lei: Affecte dField Successor Entity /lei:LEIData/le | Cardinality changed from Handle multiple successor (due to different Legal Entity Events, which i:.LEIRecor | having max one successor could lead to split, demerger, etc.) ds/lei:LEIR | entity to unbounded number ecord of successor entities. /lei:Entity/1 ei:Successo rEntity