Create a legal entity and enhance digital resilience data

  • Release version: Washingtondc
  • Updated October 5, 2024
  • 2 minutes to read

    • Create a legal entity record in Digital resilience third-party registers. You can then enhance its digital resilience information for compliance with DORA regulation.

    Before you begin

    Role required: sn_oper_res.manager

    About this task

    When you select the Legal entities record in Digital resilience third-party registers menu item in the Operational Resilience Workspace, you can view the existing legal entities (core companies) in the system.

    When you install Digital resilience third-party registers, the Legal entities tab gets added for the existing companies. You can launch the Legal entities tab and configure the details.

    Tab.View.

    Procedure

    1. Navigate to Workspaces > Operational Resilience Workspace > Digital resilience third-party registers > Legal entities.
    2. Select New.

      The Create New Company form is displayed.

      Company form.
    3. On the form, fill in the fields.
      For more information, see Create New Company form.
    4. Select Save.

      The company record is set up. Users can set up the legal entity for the company and the digital resilience information on the Legal entity tab.

      Tab.
    5. To create a legal entity record and set up its digital resilience information for DORA regulation, navigate to the Legal entity tab and select New.
      For information on setting up the digital resilience information for a legal entity, see Create New Legal entity form.

      The Create New Legal Entity form is displayed.

      Form.
    6. Select Save.

      The Legal Entity record contains fields that provide the necessary information for regulatory reporting of the legal entity. This includes details like Legal Entity Identifier (LEI), name, country of registration, entity type (as defined by the regulator), and more. These fields are offered as choice lists within the system for users to select from.

      Form.

      The system acknowledges the entity hierarchy, with no additional details required for ultimate parents, while subsidiaries must specify their parent entity. The date of registration for each legal entity is also noted.

      For each entity, the system records the following details:
      • Last update to the record
      • Integration date of the information register
      • History of the financial entity's removal from the register, if any (and if so, the deletion date, currency used, and total asset value at that time)

      Regulators mandate these specific details for legal entities engaging with external third parties for outsourced technical services.

    7. To edit the Legal entity record, select it from the list and select Edit.
    8. To export the Legal entity record, select Export.
    9. To delete the Legal entity record, select it from the list and select Delete.

    What to do next

    Set up branches for a legal entity. For more information, see Create a branch and enhance digital resilience data.