In June 2012, the Financial Stability Board (FSB) published its report, A Global Legal Identifier for Financial Markets which set out its recommendations and proposals to overcome the weaknesses in financial reporting by identifying participants in any financial transaction. On 28 May 2019, the FSB published the Thematic Review on Implementation of the Legal Entity Identifier.
With 1.5m organizations around the world now registered with a Legal Entity Identifier (LEI), the LEI has quickly proven its value as the “one identity behind every business”. The SWIFT Payment Market Practice Group (PMPG) states that “ LEIs have huge potential to improve the identification of parties within payment processes, increase efficiency across the system, and automate and improve sanctions and other similar checks.
In August 2019, the Global Legal Entity Identifier Foundation (GLEIF) published the latest quarterly report, which highlights key developments relevant to the adoption of the Legal Entity Identifier (LEI). Specifically, the reports assess annual growth and renewal expectations, evaluate the level of competition between LEI issuing organizations operating in the Global LEI System and analyze LEI renewal rates and reference data corroboration. Since July 2017, we also deliver statistics on direct and ultimate parent information provided by legal entities.
The Global Legal Entity Identifier Foundation (GLEIF) publishes the monthly ‘Global LEI Data Quality Report’. It provides the following information identifying the overall data quality within the Global LEI System
Global Legal Entity Identifier Foundation provides an overview of the latest global developments relevant to Legal Entity Identifier adoption