Accreditation Process

The Global Legal Entity Identifier Foundation (GLEIF) LEI Issuer, also referred to as a Local Operating Unit (LOU), accreditation process must be successfully completed by organizations seeking to become LEI Issuers. It is divided into two phases.

The first phase requires the Applicant LEI Issuer to create an accreditation plan. This should outline the Applicant LEI Issuer's goals, objectives, and capabilities, and how they fit within GLEIF’s operational and control environment. After review and approval by GLEIF, the Applicant LEI Issuer is required to sign the Master Agreement. This designates it a Candidate LEI Issuer, and the second phase begins.

The second phase requires the Candidate LEI Issuer to submit the full accreditation documentation, as detailed in the Accreditation Checklist, to GLEIF for review within three months of signing the Master Agreement. GLEIF then has a review period of no longer than ninety business days to determine whether the Candidate LEI Issuer:

• Passes, receives its Accreditation Certificate, and is allowed to commence offering LEI services, or

• Fails, has its Master Agreement terminated, and is not allowed to offer LEI services, or

• Passes provisionally. In this case, GLEIF provides an explanation of the authority the Candidate Lei Issuer now has to offer LEI services and what it must do to receive the full Accreditation Certificate.

The requirements that must be met during the accreditation process are further described in the Accreditation Manual.

The diagram below demonstrates the six steps of the accreditation process. A summary of the actions for each step is available in the text beneath the diagram.

Applicant and Candidate Lei Issuers will receive feedback on their application and may be asked for additional information where necessary. They will then be advised of the GLEIF Board of Directors' final decision. Successful completion results in GLEIF accreditation and authorization to begin issuing LEIs to legal entities in authorized jurisdictions.

GLEIF accreditation confirms that the Lei Issuer meets or exceeds the GLEIF quality and performance standards based upon the materials presented and testing performed; the Master Agreement requires the Lei Issuer to maintain these quality standards every operating year for an initial three-year term.

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