Lapsed LEI Number? Here's what to do

What to do when your LEI has LAPSED

Legal Entity Identifiers (LEIs) require annual renewal. This ensures the data contained on the LEI index is current, up to date and accurate.

If your LEI has not been renewed in the last year it will be marked as LAPSED.

To renew, simply follow the guides below.

Renew a lapsed lEI

trANSFER LEI

What does a LAPSED LEI record mean?

When you register an LEI to the global LEI index it will be initially active for a period of 12 months. This means the LEI record will have a small green dot beside the field labelled 'LEI Status' on your LEI record indicating to regulators or interested parties that the LEI data is issued and up to date.

In order to have a reliable system of regularly updated data the LEI records should be renewed annually. Therefore, once an LEI record goes 12 months without being renewed it will be marked as LAPSED and the green dot will turn to red.

LEI Worldwide send regular automated email reminders to customers in order to ensure that the LEI in not in danger of lapsing without the knowledge of the owner.

There are currently 515,000 Lapsed LEIs globally. This accounts for 30% of all LEIs registered to date.

What happens if my LEI becomes LAPSED?

If your regulator requires you to have an active LEI you will need to ensure it remains active. Many regulators and industries have a "no LEI, no trade" policy, which also applies to expired LEIs.

The potential downsides to having a lapsed LEI include blocked transactions in the case of SFTs or OTC transactions. If you require an LEI for regulatory reporting such as SFTR or EMIR then you may be contacted in order to activate the LEI.

In other cases such as corporate borrowing or lending, you may run into difficulties with your provider if they ask you for your Legal Entity Identifier and it has not been maintained.

Read more about the risks associated with Lapsed LEIs here.

What to do if your LEI has Lapsed...

In the case that your LEI has lapsed, not to worry, it can be re-activated relatively quickly. But move fast...

How to renew a lapsed LEI in 5 easy steps

1. Simply click the renewal button on the home page or below.

2. Enter the details of the LAPSED LEI.

3. Proceed to checkout, choose one of the 3 renewal options.

4. Submit your application which will be reviewed by our registration team.

5. If this LEI was originally registered with another service provider it will need to be imported first.

RENEW MY LEI

Transferring a Lapsed LEI

The act of moving an LEI code from one LEI Service provider to LEI Worldwide is known as an LEI Transfer.

In the case that you would like LEI Worldwide to re-activate a lapsed LEI that currently is under the management of another service provider, please contact us and we will arrange the transfer process on your behalf.

Please note that we may require a written signature of approval, and a transfer can sometimes be delayed by a day or two.

TRANSFER MY LAPSED LEI

Facilitating the Universal allocation of LEI numbers.

LEI Worldwide facilitate entity identification in the global financial system, capital markets and private sector. We make the process accessible and simple for Legal Entities to obtain Legal Entity Identifier numbers. By doing this we help facilitate the global allocation of LEI numbers. It is our mission to be the one point of contact globally between Legal Entities & LOU’s and ensuring the LEI becomes the Worlds most important identifier.