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Legal Entity Identifier (LEI) registration is a process that can be done through a Local Operating Unit (LOU), which is an organization accredited by the Global Legal Entity Identifier Foundation (GLEIF) to issue LEIs. The LOU validates the information provided by the legal entity and issues the LEI.
The following are the general steps to obtain an LEI:
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Identify the LOU: Choose an LOU that is accredited by GLEIF to issue LEIs. You can find a list of accredited LOUs on the GLEIF website.
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Provide Entity Information: Provide information about the legal entity, such as its name, legal form, address, and ownership structure. This information will be used to validate the legal entity's identity and to issue the LEI.
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Pay the Fee: The LOU will charge a fee for the LEI registration process. The fee may vary depending on the LOU chosen and the number of LEIs being registered.
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Receive the LEI: Once the LOU has validated the legal entity's information and received payment, it will issue the LEI. The LEI will be added to the GLEIF database and will be available for use by the legal entity.
It is important to note that legal entities are responsible for ensuring the accuracy of the information provided during the LEI registration process. They must also update their LEI records if any changes occur, such as a change in ownership structure or legal name. This will help to ensure that the LEI remains accurate and up-to-date.
Posted : 21/02/2023 11:07 am