Joint GLEIF – XII Legal Identity in XBRL WG convene
Frankfurt, Germany was the site of the first meeting of the new joint XII/GLEIF Legal Identity in XBRL (LIX) Working Group. The WG aims to define and recommend mechanisms to use the Legal Entity Identifier in consistent ways within XBRL documents. The LEI is today used by a number of leading regulators, and there is every indication that this will expand rapidly. Defining consistent mechanisms now will assist with comparability in the future. The initial WG meeting, at the GLEIF offices, was attended by regulators, vendors, business experts, as well as representatives of both the GLEIF and XII in person and on the phone. A series of initial recommendations will be developed by the WG before consulting more widely.