LEI ROC Consults on Changes to Technical Guidance on Harmonization of Critical OTC Derivatives Data Elements

On May 5, the Legal Entity Identifier Regulatory Oversight Committee (LEI ROC) published a consultative document on changes to the technical guidance on the harmonization of critical over-the-counter (OTC) derivatives data elements (CDE Technical Guidance).

The LEI ROC’s proposed amendments to the CDE Technical Guidance relate to the implementation of the guidance by jurisdictions. The proposed amendments do not intend to change the substance of data elements in the guidance but are introduced to:

• eliminate factual errors and typos;

• align the format specifications with the ISO 20022 standard; and

• better clarify the content of the elements by avoiding ambiguities.

LEI ROC indicates that this consultative document is part of a two-step process to revise the CDE Technical Guidance. Once it has made amendments to the jurisdictional implementation, it intends to revise the guidance on issues such as the list of allowable values and the list of harmonized data elements.

The deadline for responses is May 26.

The LEI ROC’s consultative document.