Infant Industry Infant Industry A new or developing domestic industry whose costs of production are higher than those of established firms in the same industry in other countries. Related posts: How will an LEI system benefit industry? FINANCIAL INDUSTRY REGULATORY AUTHORITY (FINRA) How were members appointed to the IG’s industry advisory group, the “LEI Private Sector Preparatory Group”? If a global LEI is so useful, why hasn’t it already been established?