Regulators recommend Figi over Cusip, Isin for reporting in FDTA proposal
Another contentious battle in the world of identifiers pits the Figi against Cusip and the Isin, with regulators including the Fed, the SEC, and the CFTC so far backing the Figi.
Last week, nine US regulators—including the Federal Reserve, the Securities and Exchange Commission, and the Commodity Futures Trading Commission—proposed to require the use of the Figi securities identifier in financial reporting to government agencies. The move comes among other proposed rules as part of the Financial Data Transparency Act, which seeks to establish the use of open-license and machine-readable data standards in communications between regulators and financial institutions.
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