GLEIF (Global Legal Entity Identifier Foundation)

The Global Legal Entity Identifier Foundation (GLEIF) is a supra-national non-profit organisation established by the Financial Stability Board (FSB) in Basel, Switzerland in 2014 that oversees the global system for issuing and managing Legal Entity Identifiers (LEIs). It operates under the oversight of the LEI Regulatory Oversight Committee (LEI ROC).

• Headquarters: Basel, Switzerland (additional office in Frankfurt am Main, Germany)
• Founder: Financial Stability Board (FSB)
• Oversight: LEI ROC (committee of public authorities from around the globe)
• Core task: Accreditation and monitoring of Local Operating Units (LOUs)
• Database: Operates the central Global LEI Index (consolidated LEI register)
• Open Data: All LEI data is provided free of charge and publicly accessible

GLEIF was established by the Financial Stability Board (FSB). The inaugural meeting of the GLEIF Board took place on 26 June 2014 in Zurich; the headquarters were established in Basel, Switzerland.

The origins of the LEI system trace back to the G20 Cannes Summit (November 2011), where the G20 called upon the FSB to develop recommendations for a global Legal Entity Identifier. In January 2013, the Regulatory Oversight Committee (ROC) was established, and in January 2014, the FSB Plenary endorsed the GLEIF Board nominees.

Since its founding, GLEIF has regulated the number of accredited LOUs, introduced data quality standards and expanded the system with Level 2 relationship data. From 2020, the Verifiable LEI (vLEI) was developed as a digital credential based on the LEI. On 26 June 2024, Alexandre Kech took over as CEO from Stephan Wolf, who had led GLEIF since its founding.

GLEIF operates globally and oversees the entire LEI ecosystem, which is based on the international standard ISO 17442:

• LOUs: Accreditation, monitoring and de-accreditation of Local Operating Units in all jurisdictions
• Data standards: Definition and enforcement of data quality standards for LEI reference data (Level 1 and Level 2) in accordance with ISO 17442
• Global LEI Index: Operation of the central, publicly accessible LEI database
• vLEI ecosystem: Development and management of the Verifiable LEI (vLEI) for digital credentials (based on ISO 17442-2)
• Regulatory cooperation: Interface between regulators and the LEI system

Requirements and tasks of GLEIF in the system:

• LOU accreditation: Only GLEIF-accredited LOUs may issue LEIs
• ISO 17442: The LEI is based on the international standard ISO 17442, which defines the format and issuance process
• Data quality: GLEIF defines minimum requirements for data completeness and accuracy
• Consolidation: GLEIF consolidates all LOU datasets in the Global LEI Index daily
• Open Data Policy: All LEI data must be publicly accessible free of charge
• Reporting: GLEIF publishes regular reports on data quality and system growth

3 corrections:
- GLEIF was established by the FSB, not independently
- Level 2 data collection started May 2017, not January 1, 2017
- Typo: 'Konkatentationsregister' should be 'Konkatenationsregister'
1 update:
- last_amended date 2024-01-01 is generic and unsubstantiated
6 clarifications.
4 notes.