Among the free information available on the portal - AvoxData - is publicly available data attributes, including legal name, primary place of business, country of incorporation, trading status, entity type, Avox ID and, where available, the CFTC Interim Compliant Identifier based on the ISO 17442 standard. Coverage includes OTC derivative market participants.

The content is updated daily, with all changes made independently verified by the firm's data analyst team.

On top of this, registered clients have access to more in-depth content on any entity of interest and can request a more comprehensive due diligence service, which includes the provision of source documentation. Hierarchical information, industry classifications, regulatory information, issuer details and further identification codes is all available.

Registered users can also share the data throughout their firms, accessing it online or downloaded, in either CSV files or via an API that enables direct integration with their existing systems and databases.

In addition, the site's self-registration capability means clients can direct other entities based in non-transparent jurisdictions to enter their own details and supporting documentation to assist with KYC reporting obligations.

Ken Price, CEO, Avox, says: "Functions ranging from a free lookup service for basic entity data through to a more comprehensive due diligence service make this a compelling site for any firm faced with the growing number of entity-based regulatory reporting requirements."

Meanwhile, the Financial Stability Board has launched a private sector preparatory group for a federated Legal Entity Identifier (LEI) system proposed in June and since endorsed by the G20.

Last month the FSB called for interested parties - such as banks, data providers and technology firms - to get in touch about the group. More than 100 firms from 25 countries have signed up and work is now underway in three workstreams - governance and legal; operations; and ownership and relationship data.

The group - with members ranging from ANZ to Coca Cola to the Tokyo Stock Exchange - will feed back to the LEI Implementation group, which is carrying out the necessary preparatory work to develop a central platform for the integration of local identification schemes into the centralised database.