A Legal Entity Identifier (“LEI”) is a 20 digit alpha-numeric code assigned to legal entities to identify them on a global basis. The global LEI system was created after the 2008 Global Financial Crisis, when the need for identifying counterparties to transactions was increased, and the lack of standardisation became all too apparent. The LEI acts as a reliable, and up to date database of legal entities in a cross-border economy. It allows us to make more informed business decisions about who we are doing business with.
LEIs can be obtained by companies, funds, trusts or government bodies. The LEI format is standardised and based on ISO 17442. An LEI contains data specific to a legal entity and information can be verified by searching the global LEI index.
In the EU, US and Asia there are regulations mandating use of LEIs for companies conducting business in their jurisdictions, with international regulatory bodies requiring the use of LEIs for investment market participants. Any company, trust or fund that trades in OTC investments will require an LEI. We can assist with applications and renewals.
Related content
