The Legal Entity Identifier (LEI) is a 20 character global alpha-numeric code for identifying legal entities. Each LEI code is unique: it is assigned to each legal entity once and cannot be assigned to any other entity. The LEI is a unique identifier, as each legal entity receives only one LEI code. The LEI code does not replace a company's national registration code.
The LEI code allows you to identify legal entities that participate in global financial markets for various supervisory purposes. The LEI code associates a legal entity with its key reference information (name, location, etc) For example, LEI codes are already being used under the European Market Infrastructure Regulation (EMIR) for identifying counterparties in over-the counter derivates transactions. On November 1, 2017, with the application of Implementing Regulation (EU) no2017/105,it became mandatory to use an LEI code to report all derivative transactions. Since January the 1 2017,all issuers have been required to have an LEI code to improve access to regulatory information.
Since January 3, 2018, LEI codes have been used to report securities transactions from investment service providers to supervisory authorities to identify clients who are legal entities. The transaction reports are used to identify and investigate market abuses, as well as to monitor transactions and activities of investment service providers in securities markets. The format of the report is established by a European Commission implementing regulation.
Since January 3, 2018, legal entities are required to have an LEI code if they carry out transactions on a trading platform (regulated market, multilateral trading system, etc) or outside a trading platform for securities admitted to trading, or traded on a trading venue, or for which a request for admission to trading has been made, as well as securities where the underlying is a security traded on a trading venue, or an index, or basket composed of securities traded on a trading venue.
Investment service providers must request clients who are legal entities to provide all information necessary for submitting transaction information to supervisory authorities. This information includes LEI codes.
If a client that is a legal entity does not provide the investment service provider with the necessary information, including an LEI code, to report a securities transaction, the service provider will not be able to fulfil its legal reporting obligation. Consequently, the investment service provider may refuse to provide the service.
LEI code requests can be submitted to authorized LEI operators. LEI codes are issued by LOUs (Local Operating Units). Assistance in applying for an LEI code can be received from official and non-official registration agents.
Banks and investment service providers check the validity of LEI codes in the GLEIF database. As GLEIF performs database updates once a day, the LEI code issued to you will be listed in the database the following day from 14:00 CEST. For example, if your LEI code was issued today, it will be listed in the global database tomorrow from 2pm (CEST).
The validity and information related to an LEI code can be checked on the central association website at www.gleif.org. You can also check the validity of your LEI code using our search box.
GLEIF is an International organization that is responsable for the operation of the LEI code system and the monitoring of LEI code issuers. GLEIF's headquarters are located is Basel, Switzerland. The GLEIF website can be found at www.gleit.org.
LEI codes are universal codes and are not linked to any specific country. Each LOU has its own identifier, which is contained in the first four numbers of the LEI code. LEI codes are valid worldwide, regardless of the LOU that issued the code.
LEI code renewal is necessary to ensure that all information about the company associated with the LEI code is up to date.
Yes, the LEI system is based on the principle of making available information publicly available. The details of the company associated with the LEI (name, registration code, address, main office address, country of registration, etc) are acessible to everyone via the GLEIF website.
To fulfill their reporting obligation, investment service providers need their clients, who are legal entities, to have a valid LEI code. Before carrying out any securities transactions, investment service providers check the existence of a valid LEI code.
Firstly, you must register with your details (name, username) and include an operational email account. Your name will be used as a matter of courtesy and used in our future communications, which we will try to minimize. We always use information that is public and will present you with options to verify the data, which makes the accuracy of requests more agile. To correctly carry out a Level 1 registration, you must verify that the information presented is correct, namely: company name, company number, legal address/headquarters. If you belong to an organization /group of related companies, you must provide proof of this relationship.This is what we call Level 2 data.If you do not have any data from the entity you control/own or cannot/do not have authorization to provide this data, this part of the process is also quick.
Simply log in to your reserved area, select the LEI Dodes you wish to rew and the validity period for each of them and make payment. The system will validate the changes that occurred in each entity by comparing the records. If there have been no changes, the LEI Code will be automatically renewed. If the data does not match, the agents will start the update process.
You must transfer your LEI Code to the management of RapidLEI, by sending the Transfer Authorization Letter between Registrars, completed and signed by a legal representative of the company. We will support you throughout the process! After the Transfer to RapidLEI management is completed, we will be able to automatically check the Commercial Register data and determine if there have been any changes to the Global LEI System (GLEIS) database and make any changes. For bulk transfers and bulk discounts, contact our sales team!
Cancellations and refunds of new orders for LEI Codes can be requested at any time, even if there is a signed contract, and up to 60 days after the initial request, but only before the LEI code is issued. Once the LEI has been issued, a request cannot be cancelled or refunded. The repayment period, as detailed in the RA GLEIF Governance Framework, will be honored appropriately.
Firstly, you must register with your details (name, username), include an operational email account and make the payment. Complete and submit the LEI Code transfer/renewal request form. Once the transfer is complete, your LEI Code will be managed by https://codigolei.certificados.eu and we will be able to automatically check the Commercial Register data and determine if there have been any changes to the Global LEI System (GLEIS) database and proceed to possible changes.