Create a legal entity and enhance digital resilience data
Create a legal entity record in Digital resilience third-party registers using Third-party Risk Management. You can then configure digital resilience information for the legal entity such as its name, type, country, and hierarchy.
Before you begin
Role required: sn_vdr_risk_asmt.vendor_assessor
About this task
When you select the Legal entities list within the Digital resilience third-party registers in the Vendor Management Workspace, you can view the existing legal entity records in the system.
Note: Existing third parties aren’t shown in the Legal entities list. Company records can only be defined as a Third party or Legal entity. For companies and legal entities, the Vendor option is set to False. (The check box isn’t selected.)
When you install Digital resilience third-party registers, the Legal entities tab gets added to existing company record pages that aren’t already defined as a third party. You can select the tab and configure the details for that Legal entity.
Procedure
- Navigate to Workspaces > Vendor Management Workspace, select the list icon
and then navigate to **Digital resilience third-party registers**.
Select Legal entities and then create a company record by selecting New.
On the form, fill in the fields.
For descriptions of all these fields, see Create New Company form.
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 of the company record.
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.
The Legal entity record contains the fields that provide the information required for the regulatory reporting of the legal entity. This includes details such as 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.
Note: When you enter or update the LEI code field, the system validates it against the GLEIF database and auto-populates the name and country fields. If you then edit the name or country to a value that no longer matches GLEIF data, an inline warning is displayed on the edited field. You can still save the record. For more information, see Validate Legal Entity Identifier codes for DORA reporting.
For information on setting up the digital resilience information for a legal entity, see Create New Legal entity form.
Select Save.
The company record is now associated with a legal entity. You can confirm this by reviewing the Legal entity column of the Legal entities list. If the column field shows Yes, a legal entity is associated with the company record.
To edit a Legal entity record, navigate to the legal entity tab of a company record, select the legal entity you want and select Save after making your edits.
To export Legal entity records, select Export.
What to do next
Set up branches for a legal entity. For more information, see Create a branch and enhance digital resilience data.