Lapsed LEIs

A Legal Entity Identifier or LEI Number is a 20-digit unique code defined by the ISO 17442 standard. An LEI number can be issued to companies and individuals who want to conduct financial transactions and trades. For example, companies, charities, funds (including pension funds), trusts, partnerships etc., and even some unincorporated societies need an LEI.

Just like a passport or a car registration number, the LEI represents a common and recognizable code. Relevant reference data are easy to access, making it easier to identify legal entities and verify their status.

For everyday businesses, obtaining a legal entity identifier or LEI number has several advantages.

1. It can reduce the risk associated in financial transactions because you are more able to measure the risk and make informed decisions.
2. Because the risks are easier to calculate, costs of information gathering and administration are kept low. You can also reduce the cost of various reporting such as out-of-court derivative transactions.
3. You are enhancing market transparency.

These are great reasons to obtain an LEI number but some companies will need an LEI number to trade legally under certain regulations. If you wish to see a full list of regulations where obtaining an LEI number is a requirement, you can find a full table on the GLEIF website.

For any questions or inquiries, please email us at [email protected] or call 01622 535 535.