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What is LEI? Legal Entity Identifier Explained, by LEI-registrar.com

Register and Renew LEI code on https://LEI-Registrar.com. What is LEI? LEI stands for Legal Entity Identifier, and it refers to the unique identification code issued to legal entities involved in the international financial market. It is a global standard in all financial markets, including the USA, UK, and EU. What’s the background? The LEI standard was initiated back in 2008 after one of the biggest financial crises in history. This crisis exposed the challenges banks, and other financial institutions, face in identifying a huge network of companies that make transactions globally. Having a unique identifier for each legal entity would make it easier to distinguish the various companies involved in the global financial markets. The LEI standard was an initiative of the G20 member states, and it was first implemented in December 2012. Who needs LEI? Every legal entity that wants to participate in the global financial market needs to acquire an LEI number. The MiFID II/MiFIR implemented a directive on 3rd January 2018, that requires every entity participating in the European financial market to have an LEI number. Does this affect only Europe? No, this affects all legal entities across the world, including those participating in the non-EU markets. Even if your entity is not registered in any of the EU member states, having an LEI will be a requirement if that entity wants to do business in the EU markets. What are the implications if my company doesn’t have an LEI? The European Securities and Markets Authority slogan of “No LEI No Trade” makes this very clear. If you are running a legal entity intending to do business in the EU markets, not having an LEI is not an option. To learn more about Legal Entity Identifier, visit https://LEI-Registrar.com