legal entity identifier

FSB Approves Global LEI System

On May 30, the Financial Stability Board (FSB) approved the establishment of a global legal entity identifier (LEI) system that will provide a unique global identifier for parties to financial transactions. The LEI system was developed as part of the mandate of the Dodd-Frank Act directing the Treasury to collect financial transaction data from financial companies. The FSB projects a launch of the global LEI system by March 2013. FSB Release.