UK FCA issues update on the LEI requirements of 3rd country issuers.
We note their statement is very much in line with the statement issued by ESMA on the same topic.
In their analysis of the UK SFTR data currently, they noted where the security was issued in a third country jurisdiction, 29% of loaned security transaction records were not reported with an issuer LEI.
They will therefore not prioritise supervisory action in relation to the reporting of LEIs of third country issuers. They will however continue to monitor and will provide at least six months’ notice to the industry should their position change.
