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Obtaining an LEI number
In order to properly regulate transactions in financial markets and control the participants in such transactions, the International Organization for Standardization has introduced a mandatory LEI number for legal entities.
LEI is a unique twenty-digit code assigned to companies and organizations involved in financial transactions in global markets. This code is a kind of reference book of basic company data, which allows regulators, banks and counterparties to verify the reliability and transparency of a transaction participant at any time. The LEI number is used worldwide and is the international company identifier in the financial sector. Its presence is mandatory for conducting transactions with exchange-traded securities.
- to fulfill the obligation to identify financial counterparties;
- when providing investment services;
- when dealing with securities;
- for investment portfolio management;
- for brokers and traders;
- for operations with exchange shares;
- for operations with exchange-traded bonds;
- for reporting;
- to open an investment bank account.
- legal name;
- organizational and legal form;
- the jurisdiction in which the company is established;
- date of registration of the company;
- unique registration number;
- registered address;
- the actual address of the office;
- company contact information (e-mail and phone);
- information on the ownership structure (parent, subsidiaries);
- data of related organizations (funds, representative offices);
- personal data of the representative of the company (not indicated publicly, used only for administrative purposes).
Checking and renewing LEI
One unique LEI is assigned per legal entity, which has no statute of limitations. But, in order to maintain the relevance of the data entered into the LEI database, the regulators are obliged to annually renew their codes by updating the registration data. Thus, if a legal entity has changed its address, name or contacts, it is obliged to enter new data into the database and pay an annual fee. If the company misses the deadline for paying the fee, the code is considered expired, and all transactions on trading exchanges are impossible.
You can check the availability or relevance of the LEI number in the single GLEIF database. Access to the portal is unlimited and free. Each organization has its own profile with all registration data, registration deadlines and the next renewal of the code.
For assistance in obtaining an LEI number, please contact our lawyers. We will help you get the code as soon as possible and ensure its annual renewal (updating).