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GLEIF Vendor & Services Providers Relationship Group Charter
GLEIF unrestricted
| Introduction
The Global Legal Entity Identifier Foundation (GLEIF) was established by the
Financial Stability Board (FSB) as a not-for-profit organization to develop and
maintain the LEIl as a broad public good for the benefit of the users of the public
and the private sector. Find more about governance structure on www.gleif.org.
GLEIF is subject to the oversight of the ROC (Regulatory Oversight Committee,
www.leiroc.org) with about 65 financial market regulators and other public
authorities and 19 observers from over 50 jurisdictions. The ROC references the
provisions in the GLEIF Statutes for its oversight duties.
GLEIF delivers, under open data terms of use, high quality and free-of-charge
business card information about legal entities.
I GLEIF Vendor & Services Providers Relationship Group Objectives
A. To make it possible for GLEIF to understand market and product requirements of the LEI data delivered by GLEIF.
B. To make it possible for the GLEIF Vendor & Services Providers Relationship Group to express their views on GLEIF's existing LEIl services or the developments of LEI services and to stipulate the development of additional LEI services.
C. To have an open platform that facilitates communication between GLEIF and Vendors and Services providers via representative organizations.
D. To have an efficient means of communicating updates to the Common Data File Format and other GLEIS standards.
E. To exchange information and to share views on existing or upcoming initiatives in the public or private sector.
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The Vendor & Services Providers Relationship Group should be composed of representative organizations of data and technology vendors and service providers providing, or advising on the LEl data to their customers in their products and services. Such representative organizations will usually own or support a significant capability in data and data distribution that is relevant to the GLEIF mission.
The initial GLEIF Vendor & Services Providers Relationship Group will have up to 2 representatives of the above organizations. GLEIF is represented by the CEO and the Head of Business Operations.
The GLEIF, the members and their representatives have no intention to start a business cooperation of any kind by participating in the GLEIF Vendor and Service Providers Relationship Group.
Participating in the GLEIF Vendor and Service Providers Relationship Group doesn’t prevent any member to start a business relationship with another current or future member or GLEIF.
If an organization or representative does not attend four consecutive meetings, GLEIF reserves the right to check to see if the organization/ representative continues to have an interest in participating in the Group meetings. Based on the response, GLEIF may remove the organization/ representative from the GLEIF Vendor & Services Providers Relationship Group and its name and logo from GLEIF's website.
A member can leave the GLEIF Vendor and Service Providers Relationship Group by simple notice to the chair.
IV Anti-Trust Statement
Participation in the GLEIF Vendor and Service Providers Relationship Group brings companies together that compete with each other. The competition is both horizontal and vertical. It is the GLEIF's Policy that all its actions are carried out in full compliance with applicable anti-trust legislation.
Accordingly, it is necessary to avoid discussions of sensitive competitive topics and especially important to avoid recommendations with respect to such subjects. Agreements e.g., to fix prices or fees or to allocate markets are automatically illegal under the anti-trust laws. It does not matter what the reason for the agreement might be.
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An anti-trust violation does not require proof of a formal agreement. A discussion of a sensitive topic such as fees, followed by parallel action by those involved in or present at the discussion is enough to show a price fixing conspiracy. Violations of the anti-trust laws can result in injunctions, treble damage judgments, heavy fines, and even imprisonment.
Therefore, GLEIF and participants of the GLEIF Vendor and Service Providers Relationship Group must always remmember the purpose of the stakeholder group is support the implementation and use of the LEl. However, because GLEIF's activity almost always involves the cooperation of competitors, great care must be taken to assure compliance with the anti-trust laws. This means: Participation must be voluntary, and failure to participate shall not be used to penalize any company.
There shall be no discussion of prices, allocation of customers, boycotts, refusals to deal, or market share.
If any participant believes the group is drifting toward impermissible discussion, the topic shall be tabled until the opinion of counsel can be obtained.
Meetings shall be governed by an agenda prepared in advance.
Tests or data collection shall be governed by protocols developed in consultation with and monitored by counsel.
The recommendations coming out of the GLEIF Vendor and Service Providers Relationship Group are just that. Individual companies remain free to make independent, competitive decisions.
Any standards developed must (i) be set on a non-discriminatory basis and (ii) have to be objectively necessary to foster the adoption of the LEI.
V Meetings
The meetings of the GLEIF Vendor and Service Providers Relationship Group may take place by conference call or by an in-person meeting. An in-person meeting might take place once a year at a place and a day where already other meetings are planned to avoid travel costs for the members of the GLEIF Vendor and Service Providers Relationship Group. Members of the Vendor and Service Providers Relationship Group may choose to participate in project initiatives and workshops made available by GLEIF.
GLEIF Vendor and Service Providers Relationship Group’s meetings might be recorded solely for the purpose of allowing people who were not present to
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watch the recording. The recording will only be shared with members of this Group.
The GLEIF Vendor and Service Providers Relationship Group is co-chaired by Stuart Clark, an independent industry representative, and the GLEIF CEO. The Co-Chairs will serve the GLEIF Vendor and Service Providers Relationship Group for the first period of two years.
GLEIF will support the two co-chairs with secretarial services.
Every member can make suggestions for agenda items in writing to the chair. The co-chairs agree on the agenda of the meetings.
VI Communication
GLEIF has the duty to be transparent (Article 6 of the GLEIF Statutes).
Any press or social media work of the GLEIF Vendor and Service Providers Relationship Group or of members or GLEIF in relation to the GLEIF Vendor and Service Providers Relationship Group must be explicitly agreed by GLEIF and the members of the GLEIF Vendor and Service Providers Relationship Group.
The members of the GLEIF Vendor and Service Providers Relationship Group agree to share their email addresses with each other. GLEIF may setup and manage a mailing list accordingly.
VIl Costs
Every member of the GLEIF Vendor and Service Providers Relationship Group will bear its own costs.
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