In the first Artemis Fowl book, it is revealed that they hate (more than most Fairies) the parting of Fairy Gold. Also in the first book, they made Briar Cudgeon acting commander of LEPrecon. Thankfully, however, he was relieved of duty and was demoted. He was only prevented from being kicked out altogether by his family's strong political connections.
To get anything done with the Fairy Council, a fairy in a high position in the LEP is required to sit through several long and extremly dull meetings. That rule has been ignored many times, however.
The Council are the commanders of the LEP.