LEI: 10 Years of GLEIF’s Trust and Transparency – Quotes Box quotesbox.in

GLEIF was founded in response to the 2008 financial crisis, highlighting the need for a global standard in legal entity identification. The Financial Stability Board (FSB) endorsed the Legal Entity Identifier (LEI) system to provide unique identification to legal entities engaged in financial transactions. This initiative aimed to improve risk management and reduce systemic risks in financial markets.