Identification Infrastructures and the Capitalization of Data in the Development of Data-Driven Regulation:: The Case of the Global Legal Entity Identifier System

Yuval Millo; Nikiforos Panourgias; Markos Zachariadis

doi:10.1093/oso/9780198854722.003.0009

Identification Infrastructures and the Capitalization of Data in the Development of Data-Driven Regulation: The Case of the Global Legal Entity Identifier System

Yuval Millo, Nikiforos Panourgias, Markos Zachariadis

MSM Marketing

Research output: Chapter in Book/Conference proceeding › Chapter › peer-review

Abstract

This chapter discusses the establishment of a global identification infrastructure to improve the regulation of financial markets. The Global Legal Entity Identifier System (GLEIS), was developed to enable financial regulators to trace the owners of financial assets and liabilities, which was revealed as a problem by the global financial crisis of 2008. This chapter focuses on one of the key controversies that arose as part of the development of GLEIS—the issue of data quality. The chapter uses the GLEIS case to explain how differing views among infrastructure participants about the development of a complex data-driven regulatory system are reconciled. It shows that establishing such a system involves the turning of publicly available data into valuable assets in a process the chapter calls ‘capitalization through certification’ and argue that this process is relevant to broader debates about the use of business intelligence and analytics tools and techniques for regulatory purposes.

Original language	English
Title of host publication	Combating Fiscal Fraud and Empowering Regulators:
Subtitle of host publication	Bringing tax money back into the COFFERS
Editors	Brigitte Unger, Lucia Rossel, Joras Ferwerda
Publisher	Oxford: Oxford University Press
Chapter	9
Pages	158-179
Number of pages	21
ISBN (Print)	9780198854722
DOIs	https://doi.org/10.1093/oso/9780198854722.003.0009
Publication status	Published - 18 Feb 2021

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

Access to Document

10.1093/oso/9780198854722.003.0009

Cite this

Millo, Y., Panourgias, N., & Zachariadis, M. (2021). Identification Infrastructures and the Capitalization of Data in the Development of Data-Driven Regulation: The Case of the Global Legal Entity Identifier System. In B. Unger, L. Rossel, & J. Ferwerda (Eds.), Combating Fiscal Fraud and Empowering Regulators: : Bringing tax money back into the COFFERS (pp. 158-179). Oxford: Oxford University Press. https://doi.org/10.1093/oso/9780198854722.003.0009

Millo, Yuval ; Panourgias, Nikiforos ; Zachariadis, Markos. / Identification Infrastructures and the Capitalization of Data in the Development of Data-Driven Regulation: The Case of the Global Legal Entity Identifier System. Combating Fiscal Fraud and Empowering Regulators: : Bringing tax money back into the COFFERS. editor / Brigitte Unger ; Lucia Rossel ; Joras Ferwerda. Oxford: Oxford University Press, 2021. pp. 158-179

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abstract = "This chapter discusses the establishment of a global identification infrastructure to improve the regulation of financial markets. The Global Legal Entity Identifier System (GLEIS), was developed to enable financial regulators to trace the owners of financial assets and liabilities, which was revealed as a problem by the global financial crisis of 2008. This chapter focuses on one of the key controversies that arose as part of the development of GLEIS—the issue of data quality. The chapter uses the GLEIS case to explain how differing views among infrastructure participants about the development of a complex data-driven regulatory system are reconciled. It shows that establishing such a system involves the turning of publicly available data into valuable assets in a process the chapter calls {\textquoteleft}capitalization through certification{\textquoteright} and argue that this process is relevant to broader debates about the use of business intelligence and analytics tools and techniques for regulatory purposes.",

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Millo, Y, Panourgias, N & Zachariadis, M 2021, Identification Infrastructures and the Capitalization of Data in the Development of Data-Driven Regulation: The Case of the Global Legal Entity Identifier System. in B Unger, L Rossel & J Ferwerda (eds), Combating Fiscal Fraud and Empowering Regulators: : Bringing tax money back into the COFFERS. Oxford: Oxford University Press, pp. 158-179. https://doi.org/10.1093/oso/9780198854722.003.0009

Identification Infrastructures and the Capitalization of Data in the Development of Data-Driven Regulation: The Case of the Global Legal Entity Identifier System. / Millo, Yuval; Panourgias, Nikiforos; Zachariadis, Markos.
Combating Fiscal Fraud and Empowering Regulators: : Bringing tax money back into the COFFERS. ed. / Brigitte Unger; Lucia Rossel; Joras Ferwerda. Oxford: Oxford University Press, 2021. p. 158-179.

Research output: Chapter in Book/Conference proceeding › Chapter › peer-review

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Millo Y, Panourgias N, Zachariadis M. Identification Infrastructures and the Capitalization of Data in the Development of Data-Driven Regulation: The Case of the Global Legal Entity Identifier System. In Unger B, Rossel L, Ferwerda J, editors, Combating Fiscal Fraud and Empowering Regulators: : Bringing tax money back into the COFFERS. Oxford: Oxford University Press. 2021. p. 158-179 doi: 10.1093/oso/9780198854722.003.0009