About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Global LEI System Makes Progress with Regulatory Commitment to Implement LEI Data Hierarchies

Subscribe to our newsletter

The Global Legal Entity Identifier (LEI) System is moving towards completion following a statement from the Regulatory Oversight Committee (ROC) on the introduction of LEI hierarchy data and the opening of a website by the Global LEI Foundation (GLEIF) that will provide access to a centralised database of all issued LEIs. Work is also being carried out by the GLEIF to develop a master agreement that will govern its relationships with pre-Local Operating Units (LOUs) and lead to a fully operational global LEI system.

In a year end progress note published this week, the ROC reviewed the development of the Global LEI System through 2014 and addressed the outstanding issue of LEI hierarchy data that is necessary for regulators to monitor systemic risk and for financial institutions to improve risk management.

The ROC note states: “In light of the stage of development of the Global LEI System, the next pressing policy objective is the implementation of information on organisational relationship structures, particularly hierarchical structures. To this end, the ROC established in December 2014 a task force to develop a proposal for principles and standards for collecting in the Global LEI System information on the direct and ultimate parents of legal entities. A public consultation is expected to be organised on this topic in the course of 2015. Phased implementation of such information is expected to begin around the end of 2015.”

The ROC also noted that the GLEIF will direct construction of the technology infrastructure of the global system and that it is working with over 20 endorsed pre-LOUs to develop a master agreement that will govern the relationship between the GLEIF and the pre-LOUs. Once the master agreement is in place, the ROC says it will be a matter of months before a fully operational global LEI system can be managed by the GLEIF.

The GLEIF website – www.gleif.org – provides comprehensive information about the LEI and Global LEI System, and says the site will provide access in the languages of G20 countries to a database of all LEIs issued globally and their associated reference data this year. The central database will include free of charge LEI file downloads and search capabilities, and should help LOUs avoid any duplication of LEIs as they will be able to check the central database for existing LEI codes and companies with LEIs rather than having to check the databases of multiple LOUs.

The GLEIF was founded in Zurich, Switzerland in June 2014 and has since been working to stand up its operations. Noting the website as a first step in this process and a visible sign of progress, GLEIF CEO Stephan Wolf comments: “We are excited to release the website as the primary means for stakeholders and the public in general to communicate with the GLEIF and follow its activities.”

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: How to simplify and modernize data architecture to unleash data value and innovation

The data needs of financial institutions are growing at pace as new formats and greater volumes of information are integrated into their systems. With this has come greater complexity in managing and governing that data, amplifying pain points along data pipelines. In response, innovative new streamlined and flexible architectures have emerged that can absorb and...

BLOG

Rise of Data Products Excites Data Management Summit London

Squeezing the most value from data has become the key driver of data management innovation in the past few years. Among the tools garnering most attention in this quest is an approach that treats data as a consumer product. The theory is a simple one. By packaging datasets as well and data-centric services and products,...

EVENT

AI in Capital Markets Summit New York

The AI in Capital Markets Summit will explore current and emerging trends in AI, the potential of Generative AI and LLMs and how AI can be applied for efficiencies and business value across a number of use cases, in the front and back office of financial institutions. The agenda will explore the risks and challenges of adopting AI and the foundational technologies and data management capabilities that underpin successful deployment.

GUIDE

AI in Capital Markets: Practical Insight for a Transforming Industry – Free Handbook

AI is no longer on the horizon – it’s embedded in the infrastructure of modern capital markets. But separating real impact from inflated promises requires a grounded, practical understanding. The AI in Capital Markets Handbook 2025 provides exactly that. Designed for data-driven professionals across the trade life-cycle, compliance, infrastructure, and strategy, this handbook goes beyond...