LEI Worldwide
  • Home
  • LEI REGISTRATION
    • Update an LEI
    • Transfer an LEI
  • Resources
    • KNOWLEDGE CENTRE
    • LEI INFO
    • LEI Statistics
    • LEI Data Matching
    • LEI Regions Supported
  • Become a Partner
  • News & Insights
  • Contact

LEI News & Insights

Regular news, updates and blog posts including 
regulatory updates and notifications for LEI requirements. 

Australian LEI Deadline - Fast Approaching

10/9/2019

2 Comments

 
Picture
In another step towards standardised global regulation, the ASIC (The Australian Securities and Investments Commission) extended its April deadline to September 30th 2019.  

The deadline is aimed at financial service entities registered in Australia, pre-dominantly SMSF (Self Managed Superannuation Funds) traders and trustees, but can include other entities within the financial services realm.

Initially, the deadline was set for April 1st 2019, but this was later extended by ASIC. It has been stated that it is highly unlikely that the upcoming deadline set for October 1st will be extended again.

This is a right step in the direction of having one global standardised identifier. This will facilitate cross-border investing and trading and increased transparency across international markets.
 
The LEI has been a preferred identifier of ASIC since 2013 when they first introduced the ASIC Derivative Transaction (Reporting) Rules. In the rules it is mandated that counterparties to OTC derivatives are recognised by way of an LEI identifier.
 
Now, Australia follows in the footsteps of many other countries adopting a similar hard line and broader approach to the use of the LEI as its benefits become more apparent as the concept matures.
 
In the future, all businesses who trade internationally will move towards the LEI as it provides a centralised, reliable source of data improving not just security, but also speeding up current techniques of KYC and client onboarding.

What is an LEI?
An LEI is 20 digit alpha numerical code unique to each company that is registered on the global LEI database. The LEI listing will contain basic company information such as the registered address, and affiliations with other businesses such as parent companies or subsidiaries or branches.
 
How do I get an LEI quickly?
It is easy to apply for an LEI code if you have not already got one. Simply head to our registration page and fill in the LEI registration form. Contact info@lei-worldwide.com for any questions.
 
How much does an LEI Code cost?
There are a number of different pricing options. A new LEI for one year is €89, but if you subscribe to automatic renewals it is just €75 per annum.
 
What happens if I miss the ASIC October 1st deadline?
As soon as you receive your LEI you should contact your Trade Repository to inform them. Corporate clients who have not provided an LEI to their brokers before 1st October may no longer be able to trade with them.
 
Click here to Register an LEI 
2 Comments

    LEI Worldwide

    The views expressed in this blog belong to LEI Worldwide.

    Archives

    April 2022
    January 2022
    December 2021
    November 2021
    October 2021
    July 2021
    June 2021
    March 2021
    January 2021
    December 2020
    November 2020
    October 2020
    July 2020
    June 2020
    May 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    September 2019
    July 2019
    June 2019
    March 2019
    February 2019
    May 2018
    March 2018
    January 2018
    July 2017

    Categories

    All
    Crypto
    KYC

    RSS Feed

​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.

Services

Register New LEI
Renew LEI
Transfer LEI
gleif partner

Company

About
Blog
FAQ
lei partners

Support

Contact
Terms & Conditions
Data Protection Policy​
stripe logo
irish funds logo
lei legal entity identifier
                                        © COPYRIGHT 2020. ALL RIGHTS RESERVED.
trustpilot logo
lei registration
lei registration
lei registration
lei registration

 UNITED STATES | DUBAI | GERMANY | NETHERLANDS | UNITED KINGDOM | AUSTRALIA |  BRAZIL | CANADA | FRANCE | SPAIN | HONG KONG | CHINA | INDIA | ITALY | SWEDEN | BVI | MALTA | UNITED ARAB EMIRATES | MEXICO  LUXEMBOURG | SOUTH AFRICA | BELGIUM | SINGAPORE | JAPAN | MAURITIUS | CAYMAN ISLANDS | TURKEY | PORTUGAL | PANAMA | DENMARK | CYPRUS | KENYA | IRELAND | NEW ZEALAND | GREECE | SEYCHELLES
  • Home
  • LEI REGISTRATION
    • Update an LEI
    • Transfer an LEI
  • Resources
    • KNOWLEDGE CENTRE
    • LEI INFO
    • LEI Statistics
    • LEI Data Matching
    • LEI Regions Supported
  • Become a Partner
  • News & Insights
  • Contact