Accreditation is the process by which the Global Legal Entity Identifier Foundation (GLEIF) evaluates the suitability of organizations seeking to operate within the Global LEI System as issuers of Legal Entity Identifiers (LEIs) and custodians of LEI reference data. Becoming a member of the Global LEI System via GLEIF accreditation is a globally recognized designation of commitment to data quality and customer service.
An organization authorized to issue LEIs to legal entities participating in financial transactions is referred to as a Local Operating Unit (LOU). LOUs supply registration, renewal and other services, and act as the primary interface with legal entities for LEIs. An LOU may issue LEIs to legal entities in any jurisdiction for which it is accredited.
This section of the GLEIF website makes available all documentation and information relevant to participation in the GLEIF accreditation process. The six steps, which an organization seeking to become a GLEIF accredited LOU must complete, are detailed on this dedicated GLEIF website page: Accreditation Process.
GLEIF assumed the responsibility for accrediting organizations seeking to become LEI issuers on 7 October 2015 with the conclusion of a Memorandum of Understanding between GLEIF and the LEI Regulatory Oversight Committee (LEI ROC). Prior to that date, the LEI ROC was responsible for endorsing organizations as LEI issuers. Existing LEI issuers, previously endorsed by the LEI ROC, are referred to as ‘pre-LOUs’.
The LEI ROC will not accept new applications for endorsement as LEI issuers. Each LEI issuer endorsed by the LEI ROC to date will apply to become GLEIF accredited. They are subject to the same evaluation criteria as any new organization seeking accreditation. Only GLEIF accredited organizations will be authorized to issue LEIs.
Organizations currently operating based on LEI ROC endorsement will continue issuing LEIs while they undergo the GLEIF accreditation process. All LEIs issued remain valid regardless whether the issuer succeeds in becoming GLEIF accredited or not. In the event that an organization currently issuing LEIs should fail to meet the requirements of GLEIF accreditation, the LEIs already issued by that organization would be transferred to a GLEIF accredited issuer.
Organizations seeking assistance with their application to become a GLEIF accredited LOU should direct their questions on the accreditation process by email to firstname.lastname@example.org.