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New Financial Releases Global Capital Markets Growth Index

10 January 2019   |   News  |  Press Releases

Washington, D.C., 10 January 2019 – New Financial, commissioned by the Global Financial Markets Association (GFMA), has today published a new major industry report, “The New Financial Global Capital Markets Growth Index.” The purpose of the report is to provide an in-depth review and comparison of national and regional capital markets across the globe in terms of market size, depth, and access to pools of capital.

GFMA Statement on the FSB's Establishment of the Global LEI Foundation

11 November 2014   |   News  |  Financial Market Infrastructure

Release Date: 30 June 2014 Contact: Carol Danko, 202.962.7390, cdanko@sifma.org   GFMA statement on the FSB's establishment of the Global LEI Foundation Washington, DC, June 30, 2014- GFMA today issued the following statement from Kenneth E. Bentsen, Jr., GFMA CEO and SIFMA president and CEO on the establishment of the Global Legal Entity Identifier Foundation (GLEIF) by the Financial Stability Board Plenary: "GFMA welcomes the establishment of the Global LEI Foundation and the appointment of the first LEI Board of Directors by the Financial Stability Board (FSB). These are essential foundational elements for the development of the global LEI System, and will help catalyze the further expansion of the use of the LEI around the globe. "Having a uniform, global legal entity identifier standard will help regulators, supervisors, researchers and firms to better measure and monitor systemic risk, more effectively measure and manage counterparty exposure, and improve operational efficiencies. Overall, this standard will help support the shared objective of a more stable financial system."  The announcement was made by the FSB on June 30, 2014 and further statements from the GLEIF can be found here and here. -30- The Securities Industry and Financial Markets Association (SIFMA) brings together the shared interests of hundreds of securities firms, banks and asset managers. SIFMA's mission is to support a strong financial industry, investor opportunity, capital formation, job creation and economic growth, while building trust and confidence in the financial markets. SIFMA, with offices in New York and Washington, D.C., is the U.S. regional member of the Global Financial Markets Association (GFMA). For more information, visit http://www.sifma.org.   

FT: Regulators Must Mandate Use of the Global LEI System

13 August 2014   |   News  |  Financial Market Infrastructure

In a letter to the editor of the Financial Times, Kenneth E. Bentsen, Jr., - President and CEO of SIFMA and CEO of {SIFMA’s global affiliate} GFMA - encourages the Financial Stability Board (FSB) to urge regulators and policy makers across the globe to prioritize the use of LEIs as part of their toolkit for promoting financial stability.

GFMA Statement on the Endorsement of Pre-LEI Utilities

11 October 2013   |   News  |  Financial Market Infrastructure

Release date: 11 October 2013 London, 11 October 2013 - GFMA released the following statement after the Regulatory Oversight Committee (ROC) of the Global Legal Entity Identifier System (GLEIS) endorsed three utilities as pre- Local Operating Units (pre-LOUs) with the authorization to issue pre-legal entity identifiers (pre-LEIs). The three pre-LOUs include the CICI Utility, as well as WM Datenservice and INSEE (issuing only to French entities). These pre-LOUs will issue pre-LEIs that will serve as common legal entity identifiers and will transition to the global system when it is completed.  "The establishment of a global legal entity identifier system will dramatically improve systemic risk management in the financial industry. GFMA strongly supports the ROC's endorsement of these utilities to issue "mutually acceptable" pre-LEIs. The use of these pre-LEIs is a critical step forward for the GLEIS as it will enable the industry and regulators to start realizing the benefits of common identifiers now while work on the global system is completed. "Currently, there is no global standard for identifying parties to a financial transaction. Without a standard way to identify entities engaged in financial transactions, it is more challenging to measure the total exposure of one organization to another. The LEI initiative will dramatically improve systemic risk management by providing regulators and firms with more complete and accurate data on exposures in the financial system." -ENDS- The Global Financial Markets Association (GFMA) brings together three of the world's leading financial trade associations to address the increasingly important global regulatory agenda and to promote coordinated advocacy efforts. The Association for Financial Markets in Europe (AFME) in London and Brussels, the Asia Securities Industry & Financial Markets Association (ASIFMA) in Hong Kong and the Securities Industry and Financial Markets Association (SIFMA) in New York and Washington are, respectively, the European, Asian and North American members of GFMA. For more information, visit https://www.gfma.org.

GFMA Posts Provisional Legal Entity Identifiers

10 December 2012   |   News  |  Financial Market Infrastructure

Release Date January 20, 2012 Contact           Liz Pierce, +1 (212) 313 1173, lpierce@gfma.org                         James White, +44 (0)20 7743 9367, james.white@gfma.org                         Rebecca Terner, +852 2537 3246, rterner@asifma.org    GFMA Posts Provisional Legal Entity Identifiers     LONDON, HONG KONG

GFMA Commends CICI Utility Launch

21 August 2012   |   News  |  Financial Market Infrastructure

Release Date 21 August 2012Contact   Liz Pierce, 212 313 1173, lpierce@gfma.org GFMA Commends CICI Utility Launch  New York, NY, 21 August 2012 – GFMA today released the following statement from David Strongin, representing GFMA, in response to today’s launch

GFMA Statement on the FSB’s Recommended Global LEI Framework

13 June 2012   |   News  |  Financial Market Infrastructure

Release Date June 13, 2012Contact Liz Pierce, 212.313.1173, lpierce@gfma.org  GFMA Statement on the FSB’s Recommended Global LEI Framework   New York, NY, June X, 2012–GFMA today released the following statement in response to the Financial Stability Board’s (FSB) recommendation to the

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