LEI ROC publishes first progress report

On 8 March 2013, the Financial Stability Board (FSB) published the first progress report of the Legal Entity Identifier (LEI) Regulatory Oversight Committee (ROC).

The report notes that members of the ROC discussed the need for co-ordination in light of plans for LEI implementation in Europe, North America and elsewhere.  The importance of having clear criteria for issuance of the pre-LEI identifiers that could be considered as providing an interim solution for the establishment of the Global LEI System was also noted.

Amongst other business, the ROC formally established the Committee on Evaluation and Standards (CES).  It also welcomed the development work already undertaken by the FSB LEI Private Sector Preparatory Group (PSPG) of 300 private sector experts and looked forward to continuing this work together with the PSPG.

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