With more than 2 million organisations, trusts and funds now with Legal Entity Identifiers (LEI), the LEI is firmly established as the global digital code to identify ‘who is who’, and ‘who owns whom’.
TOP 5 REASONS TO GET A LEGAL ENTITY IDENTIFIER
1 The LEI code is the most important standardised digital, global identifier.
The LEI was created as a result of the 2008 financial crisis to deliver strong organisation identity for counter-parties
LEIs protect citizens during market crises by providing transparancy into dependencies and risk exposure
Endorsed by the G20 and the Financial Stability Board (FSB), and overseen by the regulatory oversight committee
2 The LEI enables compliant, cross-border digital and real-world transactions.
NO LEI, NO TRADE: non-compliance with certain regulations risks fines and no-trade penalties
LEIs are made mandatory by MiFID, MiFIR, Dodd-Frank Act, EMIR and many other regulations
New regulations mandating LEI inclusion go live every month – currently 116 regulations utilise LEIs
New regulations mandating LEI inclusion go live every month – currently 116 regulations utilise LEIs
3 The LEI reduces fraud by enabling trust in your organisation’s legitimacy and real identity.
Data providers and credit check organisations utilise LEIs in Know-Your-Customer (KYC) on- boarding, and client identity refresh processes
LEIs are incorporated into the Verifiable LEI (vLEI) — a digitally verifiable credential based on self-sovereign identity (SSI) to enable automated trusted identity verification
Missing LEIs cause disruptions in business activities, deals, and transactions
LEIs are the primary connector between all the regional and private sector organisation identifiers
4 LEI records contain valuable, accurate, and transparent identity data attributes.
Both humans and machines can verify the LEI
The entire LEI database is open and searchable via web, full dataset download, or API
LEIs provide up-to-date organisation identity
The LEI is the only identifier to connect parent and children organisations
LEIs support multiple languages for names and addresses
5 LEI codes enable online applications to utilise your strong organisation identity.
LEIs are included in electronic/digital signatures, documents, press releases, site seals, QR codes, bar codes, and more
Human and machine-readable XBRL Digital Signatures are linked to LEI for permanent certainty about integrity of document such as annual reports and financial statements
LEIs can be included in x.509 digital certificates
LEIs will be included in SWIFT transactions in the new ISO payment standard
Register today at c4dti.co.uk
