2024-10-15

ESAs Opinion on the rejection of the ITS on RoI under DORA

The European Supervisory Authorities issued an opinion responding to the European Commission's rejection of draft Implementing Technical Standards for the DORA register of information due to the mandatory use of the Legal Entity Identifier. The ESAs argue that allowing the European Unique Identifier as an alternative would significantly increase reporting burdens and implementation costs for financial entities and supervisors while compromising data quality and international convergence. Although the ESAs prefer maintaining the LEI, they propose specific technical amendments to the standards to facilitate the operational use of the EUID if the Commission proceeds with its proposal.

European Union

European Securities and Markets Authority

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