Posted on Tuesday, February 25, 2020

On February 25, 2020, the Bureau of Economic Analysis (BEA) proposed a number of amendments to the mandatory BE-180 Benchmark Survey of Financial Services Transactions between U.S. Financial Services Providers and Foreign Persons. This survey will apply to the 2019 fiscal reporting year. This mandatory benchmark survey, conducted under the authority of the International Investment and Trade in Services Survey Act, covers the universe of transactions in financial services and is BEA’s most comprehensive survey of such transactions.

One of the amendments would ask respondents to provide their 20-digit Legal Entity Identifier (LEI) if they have one. Obtaining an LEI would not be required for the purpose of filing the survey. It was noted in the proposal that the LEI would “assist in matching entities across databases, enabling better verification of data and more direct linking to other surveys and publicly available data.

The BEA is accepting comments which must be received by April 27, 2020.

Read the proposal.