Legal Entity Identifier - overview of related articles - British LEI
As of 3 January 2018, LEIs are mandatory for all companies who wish to continue trading in securities.

News – Legal Entity Identifier

Global Legal Entity Identifier system

What is a Legal Entity Identifier and why do companies need it? A Legal Entity Identifier code or LEI number is a unique global identification number for a company that is issued by a GLEIF accredited Local Operating Unit. Financial institutions and regulators use LEIs to identify participants in financial markets. According to the MiFID II […]

Regulatory Use of Legal Entity Identifiers. The LEI Regulatory Oversight Committee (LEI ROC)

The potential regulatory benefits associated with a global framework for financial transactions was recognised as early as 20 years prior to the 2008 financial crisis. Prior to the implementation of the Global LEI System, each country was responsible for implementing their own framework to track financial transactions. The ad hoc nature of the previous system […]

The importance of trust in Identity in the digital Age

As digital solutions become increasingly omnipresent, the importance of implementing mechanisms to establish trust in identity in the digital age increases too. Keeping our online identities safe is one side of the coin; keeping ourselves safe as we transact with faceless customers is the other. The complexity only increases when we consider the business transactions […]

When do you need a Legal Entity Identifier?

Legal Entity Identifiers (LEIs) are now required for all companies that wish to trade on the financial markets in the UK or within the European Union. These changes occurred on 3 January 2018 when the Markets in Financial Instruments Directive and Regulation took effect. Whilst individuals are not affected by these changes, entities such as […]

History of the Legal Entity Identifier System

Prior to 2012, Legal Entity Identifiers (also known as LEI codes or numbers, or simply as LEIs) did not exist. Instead, each country used their own codes and systems to track financial transactions. The result of this is that it was nearly impossible to identify counterpart transactions within the global market. This meant that it […]

The role of LEI adoption in economic growth

Just over a decade on, aftershocks from the 2008 global financial crisis are still being felt. It is becoming easier to imagine that the global economy has returned to normal – the European Union has experienced economic growth for seven consecutive years; the US stock market set a record in August 2018 for the longest-running […]

Legal Entity Indentifiers: Renewing your LEI number

Every LEI is issued for a period of 1 year and needs to be renewed annually. It is extremely important to distinguish between renewing an LEI code and changing the data associated with an LEI. Changing the data means updating data in the GLEIF database. Be sure to update your company details with your service […]

Transferring an LEI code to British LEI

Companies apply for an LEI through a service provider, like British LEI. They need to do this because companies can’t apply for or update details within the LEI database, which is managed by the Global Legal Entity Identifier Foundation – GLEIF. Instead, a service provider (LOU – Local Operating Unit) is assigned to each LEI […]