How to restrict create accounting and period close by entity

Summary:

The closing process in Oracle is by Ledger. This creates problem when you have multiple entities [BSV's] within a Ledger. We have a global client with several legal entities [also BSV's] rolled up into a Ledger. Their Finance Team are used to close periods by legal entities in their legal systems and would like to continue to do the same in Oracle ERP Cloud too, due to regulatory reasons. Currently, to achieve the same I may have to create a Ledger for each entity and this is not a sustainable solution. Has anyone found a better solution to overcome this