GLEIF – Global Legal Entity Identifier Foundation

We enable smarter, less costly and more reliable decisions about who to do business with

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A New Future for Legal Entity Identification

GLEIF research shows that the process of onboarding client organizations in financial services, including KYC due diligence, is becoming increasingly complex. Research findings confirm: a standardized approach to entity verification using the LEI would make it easier for everyone to participate in the global digital marketplace.

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McKinsey & Company and GLEIF White Paper: Creating Business Value with the LEI

The white paper examines the potential path to adoption of the LEI in the private sector to streamline legal entity identification. It explores the business value of the LEI in capital markets, commercial transactions, and the extension of commercial credit.

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Legal Entity Identifier Services

by GLEIF

One 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 ultimately there should be one identity behind every business. 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

Regulatory Use of the LEI Date: 2018-06-20 MiFID II Temporary Period for LEIs to End in July 2018, ESMA Says

In a press release issued on 20 June 2018, the European Securities and Markets Authority (ESMA) stated with regard to the European Union revised Markets in Financial Instruments Directive (MiFID II) and Regulation (MiFIR), which took effect on 3 January 2018: The temporary period allowing for a smooth introduction of the use of LEIs, “originally brought-in in December 2017, will not be further extended and cease in July 2018. (…) Reporting firms have to use LEIs to report trades under the Markets in Financial Instruments Regulation (MiFIR). The six months period was introduced due to the fact that not all firms succeeded in obtaining LEIs in time for the MiFID II start. (…) The temporary period will last until the 2nd July 2018, including.”

GLEIF Blog Date: 2018-06-12 Onboarding Client Organizations: Impact of Complex Process on the Banking Sector

How financial services businesses can speed up KYC processes and work in a more streamlined fashion by adopting an LEI for each client organization