If a global LEI is so useful, why hasn’t it already been established?

Private industry has made several attempts over the past 20 years to establish a global entity identification system. However, private sector firms and industry associations have been unable to achieve the level of coordination needed to launch a single global solution. The consistent and coordinated global commitment by members of the FSB and G-20 to act in the public interest after the worldwide financial crisis has helped overcome previous impediments to developing the LEI.

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