Contego Version 1.79 - Release Notes

This document details the changes in North Row Release V1.79


Legal Entity Identifier:
At NorthRow, we are pleased to announce we have added Legal Entity Identifier (LEI) data to the NorthRow platform.

All investment and trading firms subject to MiFID II will now be able to access LEI data through NorthRow's single API as part of a Know Your Business Check (KYB), helping streamline client and entity onboarding.

What is a Legal Entity Identifier (LEI) code?

The Legal Entity Identifier (LEI) initiative was designed to establish a global reference system that uniquely identifies every legal entity or structure, in any jurisdiction, that is party to a financial transaction.

LEI is a 20-character, alphanumeric code based on the ISO 17442 standard developed by the International Organization for Standardization (ISO) that enables clear and unique identification of an entity that is issued with an LEI participating in financial transactions. Two integral principles of the LEI code are:
  • Uniqueness: an LEI code assigned to a unique entity. Once assigned to an entity it should never be designate to another entity, even if an entity no longer exists.
  • Exclusivity: a legal entity that has obtained an LEI code cannot obtain another one. Entities may port the maintenance of their LEI from one operator to another. The LEI remains unchanged in the process.

The Importance of Legal Entity Identifier (LEI) Data to MiFID II

Following the financial crisis of 2008, there is now an increasing need for transparency in financial markets. Transparency is now a major objective of regulatory reform around the world.
MiFID II is fundamental to the financial reform for the EU financial markets and its purpose is to improve transparency for both the investors and regulators.

To increase transparency, MiFID II established the requirement for persons that are legal entities or structures including companies, charities and trusts to have a unique LEI code.

LEI has been mandated by the European Securities and Markets Authority (ESMA) for the reporting of derivative transactions to Trade Repositories under European Market Infrastructure Regulation (EMIR). LEI data is crucial for supporting regulators’ activities in the area of market abuse supervision.

Under MiFID II and Market Abuse Regulation (MAR), all market operators are required to collect an LEI code for each issuer with securities admitted to trading.

All investment firms subject to MiFID II will be mandated to retain a valid LEI. Firms subject to the MiFID II transaction reporting obligations will not be able to execute a trade on behalf of a client who is eligible for an LEI and does not have one.

Performing a Company Check with LEI

To check a company for a LEI, first create Company Check:

Steps.
  1. Create a new Company Check, either from Quick Search from the Check Menu > Business & Contacts
  2. Populate the various fields in the Company Check as necessary
  3. Select the Profile configured for LEI
  4. Perform the Company Check by pressing the Check Business button
  5. Wait for the check to complete
  6. Examine the Score tab and look for the LEI Found or Not Found rule.
  7. Switch to the Data tab and expand the Legal Entity Identifier (LEI) Record node to view the associated LEI data.
  8. To view the Northrow PDF Report, switch to the Score tab and click on the PDF icon.
  9. A new web browser window opens displaying the Northrow PDF report.
  10. The report shows the same list of alerts / rules that were displayed on the Data tab of the user interface.
  11. Scroll down the report to the section entitled Legal Entity Identifier (LEI) Record.
  12. This section contains the same LEI record that was shown on the user interface.
If you would like to add this data to your current profile please contact us on 01235 375 111 or send us an email to support@northrow.com

Latest Features

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  2. Contego Version 1.80 - Release Notes
  3. Contego Version 1.79.1.3 - Release Notes
  4. Contego Version 1.79 - Release Notes
  5. Contego Version 1.77 - Release Notes
  6. Contego Version 1.76 - Release Notes
  7. Contego Version 1.75 - Release Notes
  8. Contego Version 1.74 - Release Notes
  9. Contego Version 1.73 - Release Notes
  10. Contego Version 1.72 - Release Notes
  11. Contego Version 1.71 - Release Notes
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  13. Contego Version 1.69 - Release Notes
  14. Contego Version 1.68 - Release Notes
  15. Contego Version 1.67 - Release Notes
  16. Contego Version 1.66 - Release Notes
  17. Contego Version 1.65 - Release Notes
  18. Contego Version 1.64 - Release Notes
  19. Contego Version 1.63 - Release Notes
  20. Contego Version 1.62 – Release Notes
  21. Contego Version 1.61 - Release Notes
  22. Contego Version 1.58 - Release Notes
  23. Contego Version 1.57.1 - Release Notes.
  24. Contego Version 1.57 - Release Notes
  25. Contego Version 1.56 - Release Notes
  26. Contego Version 1.55 - Release Notes
  27. Contego Version 1.54 - Release Notes
  28. Contego Version 1.53 – Release Notes
  29. Contego Version 1.52 - Release Notes
  30. Contego Version 1.51 - Release Notes
  31. Contego Version 1.50 - Release Notes
  32. Contego Version 1.49 - Release Notes
  33. Contego Version 1.48 - Release Notes
  34. Contego Version 1.46 - Release Notes
  35. Contego Version 1.39 - Release Notes
  36. Contego Version 1.38 - Release Notes
  37. Contego Version 1.37 - Release Notes
  38. Contego Version 1.36 - Release Notes
  39. Contego Version 1.35 - Release Notes
  40. Contego Version 1.34 - Release Notes
  41. Contego Version 1.32 - Release Notes
  42. Contego Version 1.33 - Release Notes
  43. Contego Version 1.31 - Release Notes
  44. New: Biometric Residence Permit
  45. New: Documents Tab in the Check Results Pages
  46. New: Multiple Documents Per Check
  47. New: ID Document Picture in PDF
  48. New: Multiple Google search per contact
  49. New: All uploaded files now virus and compatibility checked
  50. New: Company checks now possible simply with company number
  51. New: Electricity bill upload and MPAN number verification added to checks
  52. New: Improved alerts/results window, data now summarised so you can quickly see the status of your client at a glance
  53. New: Documents can now be uploaded to a check without being processed by I.D.Checker
  54. New: Visualisation Tool (BETA)
  55. New: Social Media Checks
  56. New: Support for International Passports
  57. Auto-Populate Passport MRZ
  58. Managed Profiles
  59. Contego Version 1.59 - Release Notes
  60. Contego Version 1.60 - Release Notes

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