An Introduction to the Legal Entity Identifier (LEI)

Legal Entity Identifier is a 20-character alphanumeric code based on the ISO 17 442 standard developed by the International Organization for Standardization (ISO). It is a key reference information that allows a clear and unique identification of the legal entities that participate in financial transactions.

What did you use LEI for?

The Legal Entity Identifier (LEI) is the reference code, like the barcode, that is used in all markets and jurisdictions to uniquely identify the different legal entities involved in financial transactions. You may get more information about Legal Entity Identifier via Indialei .

How does the legal entity identifier work? Who is the Head of the Regulatory Area LEI’s?

There are several parties involved in adopting LEI:

The European Banking Authority (EBA): issued recommendations on the use of LEI

Financial Stability Board (FSB): established at the G20 as an international body that monitors and makes recommendations on the brand of the global financial system.

Behavioural Finance Authority (FCA): Regulator behaviour towards 58,000 financial services and financial markets companies in the UK and prudential regulator for over 18,000 companies

European Securities and Markets Authority (ESMA): safeguarding the stability of the EU financial system by increasing investor protection and promoting stability.

Legal Entity Identifier Regulatory Oversight Committee (ROC LEI): A group of 71 public authorities and 19 observers from more than 50 countries was established in January 2013 to coordinate and monitor framework leis globally.

Global Legal Entity Identifier Foundation (GLEIF): It is responsible for controlling the local operations unit.