The Financial Stability Board (FSB) has approved the creation of the Global Legal Entity Identifier Foundation (GLEIF).
The establishment of the GLEIF will mark the completion of the establishment of the 3-tier structure for the Global LEI System (GLEIS) as endorsed by the FSB and the G-20 in June 2012. The three tiers comprise:
- first tier, the Regulatory Oversight Committee (ROC), was established with responsibility for the governance and oversight of the GLEIS. The ROC took over the leadership of the LEI initiative from the FSB in January 2013;
- second tier, the GLEIF will support the global application of uniform operational standards and protocols set by the ROC and support the maintenance of a ‘logically’ centralised database of identifiers and corresponding reference data; and
- third tier, federated local operational units which supply registration and other services, and act as the primary interface for registrants for LEIs.
View Establishment of the Global LEI Foundation, 30 June 2014