Global regulators and governments have increasingly referred to creation or standardization of a common financial language as the best solution to the woes facing the financial industry. In December 2017, the European Commission launched a public consultation that refers to the development of a common financial language.1 Previous to that, the Commission’s FDS Project refers to the lack of a common financial language.2 This topic was raised again at the “Preparing Supervisory Reporting for the Digital Age” EU Commission Conference in Brussels on June 4, 2018.3 It is also represented in the expansive work done on the Global Legal Entity Identifier since 2008, as well as in the United States within the Office ...
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