The ROC is a group of more than 70 public sector authorities that have signed the ROC charter (see list of ROC members and observers).

The ROC's ultimate decision-making body is the ROC Plenary, comprised of all representatives of member authorities.

The ROC is chaired since 30 January 2019 by Alan Deaton, Associate Director, Statistics Branch, Division of Insurance and Research, Federal Deposit Insurance Corporation, United States. He is assisted by three Vice-Chairs: Jurgen Boyd, Deputy Executive Officer: Collective Investment Schemes, Capital Markets, Credit Rating Agencies and Market Abuse departments, Financial Sector Conduct Authority, South Africa, P. Vasudevan, Chief General Manager, Department of Payment and Settlement System, Reserve Bank of India, and Fran├žois Laurent, Principal Adviser Directorate General Statistics, European Central Bank.

The ROC's work is also taken forward by a regionally balanced Executive Committee and supported by a standing Committee on Evaluation and Standards, and a Secretariat located in Basel, Switzerland.

The mission of the ROC is to uphold the governance principles of the Global LEI System and to oversee it in the broad public interest in accordance with:

a) the Global LEI System High Level Principles and FSB recommendations, as endorsed by the Heads of State and Government of the Group of Twenty (Los Cabos, June 2012);

b) any additional principles adopted by the ROC; and

c) the ROC Charter.

In furtherance of this mission, the ROC is to take appropriate action to protect the public interest through regulatory oversight of the Global LEI System.

The regulatory oversight of the Global LEI System by the ROC includes:

-        overseeing the Global LEI Foundation, which acts as the operational arm of the Global LEI System.

-        developing policy standards for the Global LEI System, with particular regard to data and metadata to be collected or used for official or regulatory purposes, in consultation with the Global LEI Foundation and other relevant stakeholders.

In addition, in the initial period of the establishment of the Global LEI System and before the Global LEI Foundation is fully operational, the ROC is assuming certain tasks of operational oversight and coordination of the Global LEI System, such as endorsing operators as issuers of globally compatible codes after meeting the conditions set out by the ROC. The termination of these interim tasks is described in a note by the ROC of October 2015.

The regulatory oversight functions of the ROC are supported by an advisory technical committee, the Committee on Evaluation and Standards (CES). The CES has the following responsibilities:

a) to evaluate the adequacy of existing standards and protocols in the light of the High Level Principles and other principles adopted by the ROC and that serve the broad public interest;

b) to propose revised or additional standards, or protocols as necessary;

c) to recommend to the Executive Committee the development of additional standards and protocols or the modification of existing standards and protocols as necessary; and

d) to perform any other tasks and functions as requested by the Plenary or Executive Committee.

Since 30 January 2019, the CES is chaired by Dominique Durant, Deputy Head of the Engineering and Statistics Project Management Division in the Statistics Directorate, Banque de France. From 1 February 2017 to 30 January 2019, the CES Chair was Alan Deaton, Associate Director, Statistics Branch, Division of Insurance and Research at the US Federal Deposit Insurance CorporationFrom October 2014 to January 2017, the CES was chaired by Arthur Kennickell, Assistant Director, Research and Statistics, Federal Reserve Board, United States, and from January 2013 to September 2014 by Satoru (Tomo) Yamadera, Director, Deputy Head of Payment and Settlement Systems Division, Bank of Japan.

The ROC also benefits from contributions of and interaction with an LEI Private Sector Preparatory Group of nearly 300 private sector experts across the globe. Experts interested in joining the PSPG should contact Leiroc@bis.org.