LEI Application – How to get an LEI Code

LEI Application Process Explained

A Legal Entity Identifier or LEI Code is a 20 digit alpha-numeric code that helps identify a legal entity on a global database. Each entity is assigned a unique code in order to help identify it in a number of different business use cases such as transaction reporting, KYC checks, proof of company registration or identity.

Having an LEI code is usually required by regulation and it is a compliance requirement in many countries and industries. For example in securities trading the SFTR regulation requires both the seller and issuer to report an LEI during the process. Likewise, CSDR stipulates that Central Securities Depositories are required to report on transactions that have occurred, and will need to identify market participants by way of an LEI.

Other regulations that require an LEI are for example The Dodd-Frank Act in the US, MiFID & Emir in Europe and many other jurisdictions have transparency laws that require an LEI. To see a list of LEI requirements by country click the link below.

LEI Regulations

In addition to the LEI being a regulatory requirement there are many benefits associated with having an LEI. It can help show your customers who you are, and that you are a real entity successfully registered to the LEI database increasing your international credibility. It can be make international trading much easier, and builds the trust relationship with your customer, investor or suppliers. Some of the more common LEI regulations that will mandate the LEI are listed below, however there are a total of over 160 regulations globally:

Europe:

Markets in Financial Instruments Directive (MiFID II)
European Market Infrastructure Regulation
SFTR
Solvency II
Basel III

United States

The Dodd-Frank Act
The Financial Transparency Act
The Commodity Exchange Act
The Investment Advisors Act
The Securities Exchange Act (SEA)

How to get an LEI Code

Click the Register Here button or visit the home page of the website.
Complete the application form with basic company details such as name, address and number.
Include a document such as a certificate of incumbency, or proof of ownership (Directors).
Select a payment option. Discounts available for multi-year registrations and automatic renewals.
You will receive confirmation of your LEI Code within a few hours.
Apply separately for your LEI Certificate and post it on your website to show your customers you are a legal entity they can trust.

Please see below general estimates of the LEI registration timeframe by country.