How to source a Legal Entity Identifier (LEI) - Our four step guide

Firstly ask yourself:

  • Do I belong to a legal entity?
  • Is there a regulatory requirement for my company to have a Legal Entity Identifier (LEI)? For example, under CFTC Rule 17 CFR Part 45 or under EMIR. Remember regulatory requirements are constantly changing so click here for more information.
  • Does my asset manager request a Legal Entity Identifier (LEI)?

If the answer to these questions is "yes" then follow our 4 step guide to getting an Legal Entity Identifier (LEI). Click on each step to see our guidance.

Your selection of a Local Operating Unit (LOU) should be based on:
  • Geographic location;
  • The LOU's regulations, for example, the French LOU (INSEE) is restricted to only companies which are governed by French law;
  • Speed of issuance;
  • Reputation;
  • Cost. Registration and maintenance fees can differ by LOU;
A list of Local Operating Units can be found here. If you need assistance in making the decision contact us. Each LOU offers its own guidance on registration, for example, take a look at the GMEI's FAQs page.

  • Create an online account;
  • The LOU will request details about your company, make sure that the details are identical to the company details lodged at the local Business Registry;
  • Once the registration process is complete you should receive an email confirmation from the LOU that you have an account.

A request for a Legal Entity Identifier (LEI) can be done by:
  • A primary party - you are an employee of the company you are registering;
  • Assisted registration, meaning you are a third party with explicit permission from the company you are registering on their behalf.
The Legal Entity Identifiers (LEIs) themselves can registered:
  • On an individual basis;
  • Via a bulk process
For funds:
  • Determine if your fund is a legal entity or not. If the fund is a legal entity it should be registered under its full legal name (fund codes should not be included)
  • The registered address and country should be that of the fund and not that of any intermediary
  • For a sub-fund the name submitted should be in the form "[Umbrella Fund Name] – [Sub-fund Name]"
More information on fund registration can be found here.

You will not receive your LEI immediately, that is because your LEI request will need to go through a validation process. Your request will be validated against:
  • Business registers;
  • Fund prospectuses;
  • Other public records.
These checks are made to ensure a high degree of data quality and that only correct information is published by the GLEIS. In addition, every submission is checked for duplicates, i.e. if a pre-LEI has already been assigned under the same name and address. Once your application has been verified then your LEI will be issued.

Remember what you will actually receive is a pre-LEI, once the Central Operating Unit (COU) is fully operational, your pre-LEI will become an LEI.

Payment will be required. The issuer will give guidance on their approved methods.

  • LEIs are required to undergo a mandatory annual renewal process. Note: there is an annual maintenance fee associated with all the local operating units, which can vary
  • Your company should have a policy framework to manage any changes in its legal entity structure or details. These changes will need to be reflected in the data which has been submitted to your LOU to maintain data quality.
Please contact us if you would like help generating a policy framework to manage changes in your legal entity structure.

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