MoU between GLEIF and ROC
Established by the Financial Stability Board in June 2014, the Global Legal Entity Identifier Foundation (GLEIF) is a not-for-profit organization created to support the implementation and use of the Legal Entity Identifier (LEI). GLEIF is headquartered in Basel, Switzerland.
The Regulatory Oversight Committee (ROC) is a group of public authorities from around the globe established in January 2013 to coordinate and oversee a worldwide framework of legal entity identification, the Global LEI System. In its role as overseer of GLEIF, the ROC ensures that GLEIF upholds the principles of the Global LEI System.
In October 2015, GLEIF and the ROC concluded a Memorandum of Understanding, which describes their common understanding for the implementation of the governance principles of the Global LEI System and GLEIF Statutes, in particular the expected division of responsibilities for overseeing various parts of the Global LEI System.
The Memorandum of Understanding also organizes cooperation between the ROC and GLEIF in developing standards for the Global LEI System, in consultation with relevant stakeholders, as well as the coordination of the promotion of the Global LEI System and the use of the LEI.