The LEI Validation Agent Framework
The global Legal Entity Identifier system has been developing steadily since the Group of 20 birthed the concept in 2011 in order to bring stability, transparency and standardisation to financial markets activity in the aftermath of the '08 GFC.
Since then, we have seen the number of LEIs increase to its current figure, which is sitting stubbornly somewhere between 1.5 to 1.8 million LEIs (since around 2018).
The primary driver of LEI adoption is currently financial regulation. There are over 150 regulations around the world mandating an LEI be present for reporting duties and KYC requirements. Find out more about who needs an LEI here…..
The GLEIF have indicated that their target number of LEIs is set on having 20 million registered LEI numbers globally by the year 2027.