OREANDA-NEWS. The Regulatory Oversight Committee (ROC), a surveillance organization formed by the Financial Stability Board (FSB) for implementation of the Legal Entity Identifiers (LEI) project, reports that today the ROC Secretariat allocated the 4-digit prefix of a pre-Local Operating Unit (pre-LOU) – 2534 – to National Settlement Depository (NSD), Russia’s central securities depository.

It means that NSD gains an official status of a pre-LOU and will be able to allocate Legal Entity Identifiers to Russian legal entities and to update information about the entities in the global legal entities identification system.

LEIs are a new universal standard (ISO 17442) allowing identification of all participants in financial transactions on the basis of a unique 20-digit code. Its development has been overseen by the G20 and the FSB.

The decision to create a global system of identification of participants in financial operations was made by the G20 in order to improve transparency and strengthen control over systemic risks in financial markets. The global identification structure is being formed by the FSB, and Russian Public Authorities are participating in this process.