J.P. Morgan is first validation agent in Global LEI system

The Global Legal Entity Identifier Foundation (GLEIF) announced that J.P. Morgan has become the first Validation Agent in the Global LEI System. The Validation Agent Framework, announced by GLEIF in September 2020, helps financial institutions improve their customer experience, accelerate client lifecycle management and reduce costs by using “business-as-usual” know-your-customer (KYC) and anti-money laundering (AML) onboarding procedures to facilitate LEI issuance for their clients.

J.P. Morgan and LEI issuer and DTCC’s subsidiary Business Entity Data (BED) have together issued the first LEI under the new Validation Agent model, via BED’s GMEI Utility service.

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