LEI Search - Check Your LEI Number
What is an LEI Search?
An LEI Search is a tool that you can use to look up Legal Entity Identifiers (LEIs). It provides access to the global LEI data pool and all the data that is contained in an LEI.
The LEI is based on the ISO 17442 standard. The standard ensures clear and unique identification of legal entities. You can use an LEI number search to easily check who is who and who owns whom, as well as whether the information held on an entity is up to date and if an LEI code is valid.
NEXTGEN ENERGY LIMITED
What information does an LEI Search display?
Essentially, an LEI code search will provide you access to a global directory of the financial market’s participants.
An LEI code displays the key information of a legal entity. The information can be divided into two: level 1 data (who is who?) and level 2 data (who owns whom?). Level 1 data provides general information about a legal entity: legal name, the registry the company is registered at, the registration number of the entity in the registry, jurisdiction of formation, entity legal form, entity status (Active, Inactive, Retired, Merged, Dissolved), as well as the legal and headquarters address. Level 2 data contains information about an entity’s ownership structure, i.e. if a company has any children or parents. If no parents are reported, the LEI record also shows reporting exceptions. Thus an LEI code helps to identify who is who and who owns whom.
An LEI search also shows an LEI code’s registration details: the first registration date, the date the LEI was last updated, the LEI code’s status (Issued; Lapsed; Annulled; Pending Transfer; Pending Archival; Duplicate; Merged; Retired), the date the LEI needs to be renewed, the Local Operating Unit (LOU) that currently manages the LEI code and to what extent the data has been validated against a registry (Fully Corroborated; Partially Corroborated; Entity Supplied Only). This indicates whether the data shown is up to date and correct.
It is worth noting that there are numerous LEI issuers, also known as LOUs on the global scale. The LOUs are accredited by the Global Legal Entity Identifier Foundation (GLEIF) to provide and manage LEIs. The GLEIF in turn is backed and overseen by the LEI Regulatory Oversight Committee (LEI ROC). Together they ensure the data quality of LEIs remains high.
Ultimately, an LEI search provides public information that is trustworthy and regularly verified.
Who and when should use an LEI Search?
It is possible for any individual or entity to search for an LEI number. An LEI search enables you to easily check who is who, who owns whom and whether an LEI code’s data is up to date.
Here are some possible use cases:
- If you have an LEI code you may want to check if your LEI data is up to date or if your LEI is active.
- If your business is involved in a financial transaction with another business you may want to confirm that the information you have is valid and thereby rule out any chances of fraud.
- If you work in the financial industry, you can use LEI search to add value in key areas. This includes both AML checks as well as Know Your Customer. You can use the LEI search to identify customers that are legal entities and check if their LEI codes are valid.
If you have spotted any errors in an LEI’s data, you can challenge the LEI’s data by clicking “Challenge LEI”. An LEI data challenge will help keep the LEI records complete and accurate, as well as tackle the issue of duplicate LEIs. Anyone can raise a simple challenge against any LEI record.
How to use an LEI Code Search?
As noted, it is possible for anyone to access an LEI search tool. With the right information, you will be able to find any existing LEI. You can search by company name or LEI number. When searching for an LEI number, it is important to note that the identifier is a 20-character code. It is possible to filter the search results by country to narrow down the results.
If you have found the legal entity profile you were looking for you can buy an LEI certificate for this LEI. An LEI certificate is a document that contains a company’s information based on the LEI data. Read more about LEI certificates.
If you have spotted any data that needs to be corrected, you can raise a simple LEI challenge by clicking “Challenge LEI”. You can write in your own words what is wrong with the LEI’s data. A simple LEI challenge can be submitted by anyone.
If the LEI’s next renewal date is close or has already passed, you can renew the LEI by clicking “Renew Now”. During an LEI renewal a legal entity’s data is validated against official registries. This can be done only by representatives of the legal entity. You can read more about renewing an LEI.
The benefits of an LEI Search
An LEI number search brings many benefits.
An LEI search provides public, free and standardised information about global financial market participants in one place.
By using an LEI search you can save time and reduce costs that you would spend on going through various other sources.
An LEI Search enhances transparency in the financial market and thus also reduces the risks inherent in financial transactions.
Ultimately, by using an LEI search, you will get the reassurance you need about your own LEI code or another legal entity.
Registering a Legal Entity Identifier
Do you need a legal entity identifier?
An LEI can be obtained directly from a local operating unit (LOU) or with the help of a registration agent such as LEI Register.
Note that the prices and turnaround time can differ between service providers. It may take a few hours up to a few days to receive a new LEI. Therefore it is worth exploring the market to find one that meets your needs and your budget.
Once you have received an LEI code, it will be available in the LEI Search in about 24 hours.
Start your LEI Search
Now that you understand how and what an LEI search can be used for, you can easily get started using the solution available on our website. Start with the LEI Code or company name and you will quickly be able to find the information that you need.