Global Legal Entity Identifier Legal Services

The Bureau of the Public Debt (BPD), on behalf of the Office of Financial Research (OFR) and the Financial Stability Oversight Council (FSOC) intends to contract with Lenz & Staehelin, Attorneys at Law, Route de Chene 30, CH-1211 Geneva 17, on a sole source basis, under authority of FAR 6.302-2 for Global Legal Entity Identifier Legal Services. Lenz & Staehelin has been identified as the only source capable of providing the required legal services within the compressed timeline of 31 March 2013. To support FSOC and other global regulators and authorities in identifying connections among market participants and monitoring systemic risk, OFR has spearheaded a global initiative to standardize how parties to financial contracts are identified in financial transactions. The concept of developing global legal entity identifiers, for identifying parties to financial transactions and contracts has been endorsed by the G20, and an international regulatory oversight committee ("Committee"), chaired by the United States, has been established to facilitate efforts to adopt a single, global legal entity identifier system ("LEI System"). The Committee has determined that an international foundation based in Switzerland, and organized under Swiss law, will be responsible for developing, implementing, and maintaining the global LEI System. The foundation will be managed by an international Board of Directors comprised of private industry and other relevant stakeholders. The Committee will also oversee the efforts of the international foundation. The G20 has directed the Committee to launch the LEI System no later than March of 2013. As a result, OFR requires an international law firm based in Switzerland to perform the following legal services: (i) create and organize an international foundation under the laws of Switzerland that will develop, implement and manage the LEI System; (ii) provide legal advice, analysis, and opinions related to the organization and maintenance of an international Swiss foundation; (iii) provide legal advice, analysis, and opinions related to the liability of the foundation's Board of Director's and regulators providing oversight under Swiss law; (iv) consult and communicate with the Committee and other international stakeholders as needed, or required, to perform the services referenced in (i)-(iii) above; and (v) attend in-person meetings with relevant stakeholders located in Switzerland as needed, or required, to perform the services referenced in (i)-(iv) above. The identified contractor, Lenz & Staehelin, has been providing legal services in connection with the LEI project under a contract with the Financial Stability Board (FSB). Thus, due to Staehelin's familiarity with LEI and various LEI participants, as well as their prior work and experience with the LEI project, the Committee, and the FSB, and given the complexity of the LEI project and the compressed timeline, the identified legal entity, Lenz & Staehelin, located in Switzerland, is the only firm capable of performing the tasks necessary to form the foundation by the end of March deadline. Any questions must be submitted electronically to [email protected], Attn: CGROPP.