The Legal Entity Identifier number does not replace the national registry code of a company.
An LEI registration is mandatory for all legal entities that intend to engage in financial market transactions involving any form of securities or derivatives. Examples of such financial instruments include stocks, bonds, ETFs, FX forwards, swaps, and interest rate swaps, among others.
The LEI system is intended to provide a consistent, globally accepted method for identifying parties to financial transactions to reduce risk and increase transparency in the global financial system.
Failing to renew the LEI results in its expiration. This can create issues in financial transactions and reporting obligations, potentially leading to financial institutions rejecting transactions and regulatory non-compliance penalties.
An expired, i.e., lapsed LEI can be renewed anytime.
To see more, visit the LEI search tool.
Simply enter the LEI code or the company’s name associated with an LEI, and the database will provide the current status and other relevant details.
LEI Register is a Registration Agent of Ubisecure Oy (RapidLEI).
The transfer of an LEI is costless and can be completed within seven days.
Such documentation could include a Trust Deed, an establishing agreement, or any other relevant document that confirms the information.