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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

Global LEI System Standards Date: 2021-02-15 2022-03-31: Implementation of New LEI ROC Policies

On 2022-03-31, the Global LEI System will implement the following LEI Regulatory Oversight Committee (ROC) policies:

  • Legal Entity Events: The policy specifies events which would update and/or change the entity or relationship data of a legal entity or result in the retirement and/or creation of LEIs.
  • Fund Relationships: The policy introduces three distinct relationship types that can be collected for Funds.
  • Government Entities: The policy will allow certain legal entities to be classified as Government Entities or International Organizations.

    Users must plan to implement the updated file formats to ensure uninterrupted access to LEI data beyond 2022-03-31. This is applicable to all users of the GLEIF Concatenated Files, Golden Copy and Delta Files and those who access the content of the Golden Copy files via the GLEIF API. Legal entities will provide new information as required by these policies at the time of LEI registration and renewal.

    GLEIF will publish technical details and documentation related to the implementation (including the updated Common Data File Formats, State Transition and Validation Rules) in Q2 2021 to help users prepare. Users must be ready for the transition on 2022-03-31 as LEI reference data will be provided under the new format from this date.

    Please look out for further information which will be shared within the Q2 2021 timeframe.
GLEIF Blog Date: 2021-02-18 A Map to Payments Transformation: FSB Recognizes Unique Identifiers as a Building Block for Enhanced Cross-border Payments

Clare Rowley welcomes the FSB’s Roadmap on Enhancing Cross-border Payments, which commits to consultation with GLEIF and other stakeholders on a global Unique Identifier and outlines the FSB’s commitment to review options for increasing LEI adoption