Neil Robson, a Financial Services partner in Katten's London office, was quoted in the Financial Times regarding the banking industry pushing for a reprieve to Markets in Financial Instruments Directive (MiFID II), noting that investors could lose access to markets as a result of an estimated 5,000 companies listed on European exchanges not yet having Legal Entity Identifier codes (LEI). Many investment banks estimate that as many as 15 percent of their clients do not have LEIs, and will likely not be able to obtain them by January 3. Neil noted particular concerns for Asian traders, stating, "Asian applications for LEIs are lagging way behind those from European entities and US entities." ("Banks Lobby for Reprieve on Key Part of MiFID II Rules," December 14, 2017)