What is the Legal Entity Identifier (LEI)?
All Legal Entities who are involved in financial transactions or operate within today's financial system, must have registered a LEI code.
The ISO 17442 standard defines, in its scope, the applicability of a Legal Entity Identifier (LEI) Number which is a 20-digit code , used across markets and jurisdictions to uniquely identify a legally district entity that engages in trading and/or any financial transaction. The LEI code is designed to create a global reference data system, containing information about an organisation's structure and ownership, which enhances transparency in today's marketplace.
Failure to register a LEI and/or renew it when it lapses, may potentially result in complications when it comes to certain regulatory reporting regimes and in some cases may affect the organisations' ability to trade. There are a number of mandates currently in existence which state "No Lei, No Trade".
Take Action and Get your LEI
Our Firm is registered in the UnaVista platform, utilising the London Stock Exchange as a Local Operating Unit and if you would like to engage us to obtain your legal entity's LEI, our handling fees are the following:
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HANDLING FEES |
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Registration a new LEI |
€ 250.00 + £ 90 (subject to currency rate changes) + VAT per legal entity |
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Annual renewal of your already registered LEI |
€100.00 + £ 65 (subject to currency rate changes) + VAT per legal entity |
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.