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Legal Entity Identifier (LEI) Canada

LEI Number registration in Canada

If you are transacting in the global financial system, you will more than likely be required to obtain a Legal Entity Identifier (LEI Number). 

Legal Entities in Canada such as Limited Companies, funds, trusts and government agencies may obtain an LEI Code for reporting purposes.

Applying for an LEI Number in Canada is simple. The application can be completed in a matter of minutes. Having an LEI is recommended especially in the Canada due to the multiple mandates requiring the LEI for trading securities and derivatives.
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LEI Number - Canada

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A Legal Entity Identifier (LEI) is a 20 digit code that is unique to each company or financial institution. The LEI provides basic information about the entity such as name, address and entity type e.g Limited Company. Any form of legal entity such as a Fund or Trust may also obtain an LEI Number in Canada.

We explore the concept of the Legal Entity Identifier further in our recent post
What is the Legal Entity Identifier?

Who needs an LEI in Canada?

The Legal Entity Identifier has been adopted by regulators all around the world in an effort to increase transparency in the capital markets. 

The Mifid II directive was introduced for European entities that trade in securities. Likewise, the United States SEC (Securities & Exchange Commission) have introduced multiple mandates such as the 2019 Financial Transparency Act. 

The LEI Number is also being adopted in the private sector, including banking, as it has multiple use cases and benefits. By adopting an LEI check as part of KYC processes banks can save up to $2-4 Billion annually in saved time and expenses (research conducted by McKinsey). 
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The LEI system connects the dots to create a visual representation of the global financial marketplace, moreover it provides security and transparency to its participants and regulators.
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There are currently 35,575 LEI Numbers registered in Canada. This roughly accounts for 2.5% of the LEI Numbers registered globally, which currently sits at 1,665,023 LEI Numbers (globally). 

Toronto is Canada's financial capital, and the financial services sector is one of the largest employers in the country. The region has one of the safest banking systems in the world and the third largest stock exchange globally. This makes it the home to more than 100,000 businesses and attracts most of the foreign capital investment in Canada.
Canada relies heavily on the LEI System because it has a vibrant insurance, fintech and asset management sectors. On top of this Canada has one of the largest capital markets in the world, backed by a sound regulatory environment. Canada is also a world leader in commodity exchange, and it is a global equity market in areas such as mining, oil and gas and technology. 
Use of the LEI Number was adopted early in Canada. In 2014 the derivatives markets stipulated that transacting parties require an LEI for identification. This was requested by both the Ontario Securities Commission (OSC) and the  Manitoba Securities Commission (MSC) amongst others such as the Autorité des marchés financiers (“AMF”) [Quebec] and Alberta Securities Commission (ASC).

The LEI is used in transaction reporting by trade repositories such as CME Canadian Trade Repository.  A trade repository is required to identify each counterparty to a derivative in all record keeping. 
All counterparties to OTC derivative transactions defined under OSC Rule 91-507 Trade Repositories and Derivatives Data Reporting (the TR Rule) must have an LEI." - Ontario Securities Commission

​If you are currently trading in Canada, you may be required to obtain an LEI Number. This is especially true in the capital markets, insurance and banking sectors. 

If you are engaged in international activity it is a good idea to have an LEI before you need one as it is quickly being adopted as a global standard across the EU and Asia. 


Offshore holding companies in the EU, BVI or Cayman Islands which are owned by Canadian entities will also have to obtain an LEI in a global effort to bring transparency to the offshore financial ecosystem.
legal entity identifier canada
However, more private sector entities such as Limited Companies and Sole Traders are turning to the LEI even though it is not necessarily required. This is because there are many benefits associated with having an LEI. Having an LEI Number in Canada provides you with an instant credibility boost, and an internationally recognised identity card. You can also benefit from the added layer of identity security and prevent any such related errors. ​​​See the recent article by TechBullion: 5 reasons to get an LEI Number.

How to get a Legal Entity Identifier​ Canada

Obtaining a Legal Entity Identifier Number is a simple process. The LEI application form only takes a couple of minutes and any representative of the company may apply on behalf of the entity.
1. ​Click on the 'Register New LEI' button here or visit the homepage of this website. Firstly, complete your contact details as the applicant in the appropriate fields. This information will be used to contact you in case any additional information is required. 
lei number canada

2. Now complete the fields by filling in the applying entity details. This will include information such as the address, name of Director or person legally responsible for the entity such as CEO, or Owner. 
lei number canada

3. The third section aka 'Level 2 Data' gives you the opportunity to report parent company information.
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For example, if your company is a branch of a larger organisation, or is owned by another company you may have that information appear on the LEI record. However, this is not a legal obligation. If you wish to report a legal parent company, please note that you will be requested to provide evidence of this relationship by way of Consolidated Accounts (i.e an annual report).

You may only report parent information if the parent company consolidates the accounts and the subsidiary is listed there, or owns more than 50% of the company.
lei number canada

4. The final section allows you to upload documentation relevant to your application. When an LEI application is submitted, the data is cross matched with what is on the relevant local companies registry.

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If however the company cannot be found, or the data does not match the registry, we may request that you provide supporting documentation. Some good examples include a Certificate of Incumbency, Register of Directors, or a registry extract. 

Once the application is submitted, simply choose your preferred payment method and complete the application. LEI Worldwide use our payments provider STRIPE and PayPal. We also offer the ability to complete a bank transfer or swift payment in any currency including Canadian and US Dollars.

​A member of the LEI Worldwide team will review the submission upon completion and you will receive your LEI code within a few hours.

If you have any questions please contact [email protected] 

To apply for your own LEI or on behalf of a legal entity, please select the option from the buttons below.
Register new Lei
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​Facilitating the global 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.

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  • Home
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