This document specifies the use of the Legal Entity Identifier (LEI) code, represented in ISO 17442-1:2020 Financial services - Legal entity identifier (LEI) – Part 1 Assignment, in Authentic Chained Data Container credentials (ACDC credentials), represented by [reference to ACDC specification at the time of submission of this form 4, at a minimum to the IETF draft specification]. Leveraging standard cryptography combined with the chaining feature and strong authentication protocol, the Global Legal Entity Identifier Foundation (GLEIF) has designed and developed specific ACDC credentials containing LEIs and refers to these credentials as verifiable LEIs, or vLEIs. The goal of integrating LEIs in vLEI ACDC credentials is to combine the advantages of both. LEIs can provide unique identification of businesses (legal entities) and the cryptographic verification of identification associated with digital credentials. vLEIs provide automated remote verification of legal entities owning LEIs, i.e., cryptographically prove that an LEI is owned by the organization signing with or presenting the credential. vLEIs have been created both for the LEI legal entity level as well as for Role Credentials, vLEI credentials which in addition to containing the LEI, identify persons acting on behalf of a legal entity and the official or functional roles in which these persons represent the legal entity. Users can view the lists of entity level vLEIs as well as vLEI Role Credentials issued for legal entities to persons acting in official roles for the legal entity, which are called Legal Entity Official Organizational Role vLEI Credentials (OOR Credentials). Look up of this information is accessible in addition to the look up of each LEI code and its entity and relationship reference data provided in the Global LEI System for which GLEIF provides a GLEIF Application Programming Interface (API). OOR Credentials further leverage the ISO/TC 68 Subcommittee 8 ISO 5009:2022 Financial services – Official Organizational Roles – Scheme for Official Organizational Roles standard. This standard specifies an unambiguous scheme to list official organizational roles by jurisdiction in a standard way, providing codes and their associated data records.
Status: Under development
Technical Committee: ISO/TC 68/SC 8 Reference data for financial services
- ICS :
- 03.060 Finances. Banking. Monetary systems. Insurance
ISO/CD 17442-3Stage: 30.20
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