Thu, Jul 18, 2024

The official Financial Regulation Journal of SAIFM

FSCA’s Directive on Legal Entity Identifier Adoption

In the recent communication, the FSCA unveils Communication 9 of 2024, focusing on the imperative of adopting Legal Entity Identifiers (LEIs) in South Africa. LEIs, 20-digit alpha-numeric codes, are pivotal in uniquely identifying financial institutions globally. This initiative, born from the aftermath of the 2008 financial crisis, aims to enhance transparency and mitigate systemic risks. The directive underscores the interconnectedness of global entities and the necessity of LEIs in bolstering financial stability. Published on 20th March 2024, this directive reinforces the FSCA’s commitment to fostering a robust and transparent financial ecosystem.

Please click here to read the full notice.

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