Legal Entity Identifier (LEI) Register
LEI Register
The LEI Register is an acronym for the Legal Entity Identifier Register. Companies who have a valid LEI registration receive a unique LEI number. This number is a global identifier number and companies who need to report to financial regulators, such as financial companies and funds, must have a valid LEI registration. To obtain your LEI registration, click here.
What Is the Format of an LEI Registration Number?
The LEI registration number format is a unique 20 character alpha numeric code. Alpha numeric means it consists of numbers and letters, based on the ISO standard. Legal entities with a valid LEI registration add a little extra security for those dealing with financial transactions. An entity having an LEI registration does not mean they are entitled to apply a medallion guarantee to a stock transfer form.
Who Can Issue an LEI Number?
Only proper LEI issuers, such issuers accredited by the Global Legal Entity Identifier Foundation (GLEIF), can issue LEI numbers. After registration with an approved issuer, your details are added to the Global Database of Legal Entities. If you would like to appear on the Global Database of Legal Entities, then begin your LEI register here.
Why Was It Necessary to Create a Database of Legal Entities?
When the worldwide financial crisis of 2007-2008 occurred, it became obvious that it was difficult to track the different financial transactions across the world. Especially as many financial transactions now happen internationally. As a result, the G20 put in place a global identification system beginning 2011. Henceforth, any organisation that has an LEI registration number can now be easily identified.
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