The Regulatory Oversight Committee (ROC) is a group of over 70 public authorities from more than 40 countries established in January 2013 to coordinate and oversee a worldwide framework of legal entity identification, the Global LEI System. Read more about the ROC organization, membership and objectives.
The Legal Entity Identifier (LEI) is a 20-character, alpha-numeric code, to uniquely identify legally distinct entities that engage in financial transactions.
The ROC was established as a stand-alone committee after recommendations by the international Financial Stability Board (FSB) and endorsement of the ROC Charter by the Group of Twenty (G-20) nations in November 2012.
LEIs are issued by "Local Operating Units" (LOUs) of the Global LEI System (see how to obtain an LEI). As of end January 2016, over 415,000 entities from 195 countries had obtained LEIs from 29 operational issuers endorsed by the ROC (see list of ROC endorsed LEI issuers).
A result of joint public and private sectors efforts, the LEI supports authorities and market participants in identifying and managing financial risks. In particular, LEIs may be used for reporting and other regulatory purposes in the various jurisdictions represented in the ROC (more about LEI uses). The LEI code is associated with reference data for each entity, currently including core identification information, such as the official name of the legal entity, the address of its headquarters and address of legal formation (more about the LEI and ROC work on reference data expansion).
The Global LEI Foundation (GLEIF) was established in June 2014 as a not-for-profit organization overseen by the ROC to act as the operational arm of the Global LEI System. The foundation provides on their website a centralized database of LEIs and corresponding reference data. A search function was added in October 2015, where you can check if an entity has an LEI, or access the reference data associated with an LEI, including verifying whether the LEI is current and can be used in regulatory reporting (registration status: "issued"or "pending transfer"). From 7 October 2015, new institutions that wish to become LEI issuers need to be accredited by the GLEIF, which will monitor their compliance with the standards of the Global LEI System. As of this date, the GLEIF also assumed the tasks of defining and maintaining the operational and technical standards of the system. Find out more about the Global LEI Foundation here and on their website www.gleif.org.
The ROC will continue to uphold the governance principles of and to oversee the Global LEI System, in the broad public interest, including the development of policy standards for the LEI.
20 January 2016 ROC endorsement note - KDD (Slovenia)
18 December 2015 ROC endorsement note - Strate (Pty) Ltd (Strate)
5 November 2015 The LEI ROC publishes today a Progress Report on the Global LEI System and regulatory uses of the LEI, which was sent to the FSB and G20.
19 October 2015 The LEI ROC publishes today a Consultation document on including data on branches in the Global LEI System. Responses to the questionnaire are invited by 16 November 2015.
7 October 2015 The LEI ROC determined that the GLEIF was now ready to assume the tasks of the central operating unit of the Global LEI System, including the accreditation of Local Operating Units as LEI issuers and publishes today a Memorandum of Understanding between the LEI ROC and GLEIF concerning the oversight of the Global LEI System. The ROC will continue to process applications received before that date and publish any resulting endorsement decisions.
30 September 2015 The LEI ROC publishes today a statement clarifying the conditions under which individuals acting in a business capacity are eligible to obtain LEIs
7 September 2015 The LEI ROC publishes today a consultation document on collecting data on direct and ultimate parents of legal entities in the Global LEI System. Responses to the questionnaire are invited by 19 October 2015.
3 September 2015 ROC Endorsement Note - APIR Systems Limited (APIR)
13 May 2015 The LEI ROC is consulting in May 2015 its Private Sector Preparatory Group (PSPG), along with the GLEIF, pre-LOUs and the public sector, on the collection of data on direct and ultimate parents of legal entities in the Global LEI System, in view of preparing a public consultation expected to take place in the summer of 2015.
29 January 2015 The ROC Committee on Evaluation and Standards publishes an open document intended as guidance to pre-LOUs in complying with the ROC Principles for the Interim Global LEI System published on 24 August 2014.
28 January 2015 The ROC welcomes in its 2014 Year End Progress Note the launch by the Global LEI Foundation of its website www.GLEIF.org and starts work on the collection in the Global LEI System of information on the direct and ultimate parents of legal entities
10 November 2014 The LEI ROC seeks comments by 30 November on a draft list of codes to harmonise the way business registries and other registration authorities are referred to in the Global LEI System
26 August 2014 Regulatory Oversight Committee Endorsement Note - Lux CSD
24 August 2014 Statutes of the Global LEI Foundation
24 August 2014 Additional Guidance from the LEI ROC on Portability
11 December 2013 Business registries that have provided written confirmation to the Regulatory Oversight Committee (ROC) that there are no impediments to the use of business registry number and information as set out in the open letter of November 3 2013
3 November 2013 LEI ROC Letter to Business Registries
14 August 2013 Extended deadline to 12 September - Call for applications to the Board of Directors of the Global Legal Entity Identifier Foundation (GLEIF)
8 March 2013 1st Progress Note of the LEI ROC
28 January 2013 Inaugural meeting of the Global LEI Regulatory Oversight