Legal entity data for due diligence
Verified Entity Data as a Service
Match, enrich, and maintain legal entity reference data. Our focus is exclusively on legal entity data, so we are well placed to focus on reducing your total cost of service and the legal entity data management time.
Accurate and maintained Legal entity data
Sourcing and maintaining verified entity data has become more complex and costly. Increased business requirements and regulatory reporting pressure means a greater number of stakeholders within an organization now need access to verified entity data.
Verified Entity Data as a Service is an established, market leading, global legal entity reference data service for the financial industry. We independently collect, validate and maintain a database of over 3.1 million entities from over 190 countries to provide our clients with accurate and timely data they can rely on to facilitate decision making and regulatory reporting.
Our experienced team of analysts search for new reliable sources of entity data focused on government, regulatory stock exchange and accredited business registry sources. This service driven methodology ensures that your core client, counterparty, supplier and/or issuer data is accurate, appropriately linked to parent entity records and cross referenced to industry codes and your own internal client IDs to deliver a single, centralized view of your counterparty’s legal entity information.
Support regulatory compliance
Verified Entity Data as a Service collects, and maintains identity data that enables the world’s leading financial institutions to comply with global regulations.
The Managed Data Service (MDS) manages 58 data fields which make up a “core” entity record. Information for these data fields includes identifiers like LEI and SWIFT BIC, Addresses, Industry Classifications and Corporate hierarchies, required for onboarding and MiFID II compliance.
The Enhanced Data Service (EDS) comprises modular based offerings to support clients’ regulatory reporting requirements. In addition to the MDS “core” entity records clients will receive additional data classifications as defined by each regulatory reporting requirement. Existing EDS modules include Dodd-Frank, EMIR, FATCA, AnaCredit and FCA Transaction Reporting.
Flexible delivery options
Verified Entity Data as a Service can be accessed via a number of different methods.
Clients can use any combination of:
- Online User Interface
- Upload and receipt of bulk entity files
- API: A collection of RESTfully implemented Web Services, accessible over Secure Sockets Layer (SSL), adhering to HTTP standard practices that are available in both XML and JSON format.
The 2012 Financial Action Task Force (FATF) Recommendations set new guidelines for the information that legal entities, including corporates and buy-side firms such as hedge funds and asset managers, should hold and maintain about themselves. Find out what impact this is having across the world.
This report looks at the cyber risks faced by investment managers, who handle strictly confidential data on a continual basis, whether they perform KYC due diligence on their own clients or respond to KYC requests from their banks.
End-to-end client identity, verification, screening and monitoring for accelerated client onboarding, remediation and refresh built on an interactive platform that streamlines KYC compliance and the distribution of due diligence documentation.
Identify gaps in your legal entity identifier with Thomson Reuters LEI Profiling Service. Under MiFID II, No LEI means No Trade.