Governance Structure

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The Legal Entity Identifier (LEI) initiative is driven by the Financial Stability Board (FSB) and the finance ministers and governors of central banks represented in the Group of Twenty (G20). The G20 is an informal forum for international cooperation and consists of 19 major economies plus the European Union.

In 2011, the G20 called on the FSB to take the lead in developing recommendations for a global LEI and a supporting governance structure.

The related FSB recommendations endorsed by the G20 in 2012 led to the development of the Global LEI System, which provides a unique identifier for legal entities participating in financial transactions and other official interactions worldwide.

The FSB recommended the creation of the Regulatory Oversight Committee (ROC) to the G20, which subsequently endorsed the creation of the ROC to uphold the governance principles of the Global LEI System.

In June 2014, the FSB established GLEIF.

Public authorities rely on the LEI to evaluate risk, take corrective steps, and, if required, minimize market abuse and improve the accuracy of financial data.