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GLEIF – Global Legal Entity Identifier Foundation

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Legal Entity Identifier Services by GLEIF

LEIs and Client Lifecycle Management in Banking - a U.S.$4 Billion Beginning

Research conducted by McKinsey on behalf of GLEIF has concluded that broader adoption of Legal Entity Identifiers (LEIs) could save the global banking sector U.S.$2-4 billion annually in client onboarding costs alone. This represents a saving of between 5 percent and 10 percent of the industry’s U.S.$40bn annual overall spend on the practice.

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GLEIF Publishes Annual Report

For the second consecutive year, GLEIF has published its annual report in human and machine-readable Inline XBRL and HTML format, with its Legal Entity Identifier (LEI) embedded within both the annual report and the digital certificates of GLEIF’s signing executive officers.

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One global identity behind every business

GLEIF Mission

GLEIF manages a network of partners, the LEI issuing organizations, to provide trusted services and open, reliable data for unique legal entity identification worldwide. GLEIF services ensure the operational integrity of the Global LEI System.

Our Vision

GLEIF believes that each business worldwide should have only one global identity. This identity should include a digital identity. Having an LEI will help to achieve this objective. Taking advantage of the Global LEI Index empowers market participants to cut costs, simplify and accelerate operations and gain deeper insight into the global market place.

Governance Structure

The LEI initiative is driven by the Group of 20 and the Financial Stability Board (FSB). Created by the FSB in 2014, GLEIF is a supra-national, not-for-profit organization tasked to manage the only open, non-proprietary legal entity identification system designed as a public good.

GLEIF Activities and News

GLEIF Data Quality Reports Date: 2021-06-08 Latest LEI Data Quality Reports Published

The assessment conducted on 31 May 2021 shows all Top 5 Failing Checks having fewer than 1,000 failing records for the first time since this metric is reported. The number of LEI Issuers achieving Maturity Level 1 is slightly increased while the numbers for Maturity Level 2 and 3 remain stable. GLEIF continues the transition to a new and enhanced set of Data Quality checks.

In addition, we published new monthly reports analyzing the level of data quality achieved by the individual LEI issuers.

GLEIF Blog Date: 2021-05-31 How to Prepare for the New ROC Policies

Ensure a smooth transition ahead of the implementation on March 31, 2022