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VG Camilla HA, LP 984500D8DB88Q36EC028
VG Camilla HA, LP 984500D8DB88Q36EC028
VG Camilla HA, LP 984500D8DB88Q36EC028
EUROBUBBLIES, INC. 549300ZTO0DUNCE7NG04
EUROBUBBLIES, INC. 549300ZTO0DUNCE7NG04
RECEIVE YOUR LEGAL ENTITY IDENTIFIER IN HOURS, NOT IN DAYS! ALL TYPES OF LEGAL ENTITIES IN USA ARE SUPPORTED
$75 $75
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1 year 1 year
$ 75 / year $ 75 / year
$165 $165
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3 years 3 years
$ 55 / year $ 55 / year
$250 $250
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5 years 5 years
$ 50 / year $ 50 / year
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*Note - if the start date of the child-parent relationship is after the end of accounting period, please return to the question "Does the parent consolidate financial statements/annual report?" and mark "No" as the answer.

*Note - if the start date of the child-parent relationship is after the end of accounting period, please return to the question "Does the parent consolidate financial statements/annual report?" and mark "No" as the answer.


LEGAL ENTITY IDENTIFIER PRICES

Legal Entity Identifier registration for 1 year
Legal Entity Identifier registration for 3 years
Legal Entity Identifier registration for 5 years

Renewal price of the LEGAL ENTITY IDENTIFIER number for one year $75.

*0% Sales Tax
** The invoice will be sent after the assignment of the legal entity identifier (LEI)


Who needs an Legal Entity Identifier

 

As of January 3rd 2018 all legal entities which wish to transact in European financial markets involving any kind of securities or derivates (for example Stocks, Bonds, ETFs, FX Forwards, Swaps, Interest rate Swaps etc.) need to register for an legal entity identifier.

At present most of the legal entity identifier requirements are derived from the Markets in Financial Instruments Directive (MiFID II) and European Market Infrastructure Regulation (EMIR). The main purpose of these acts is to ensure a higher transparency and stability of the global financial market. All the regulations regarding legal entity identifier can be found here.

Application for an LEI number

 

The registration for a Legal Entity Identifier is a simple three step process.

1. Fill in all the blanks in the Legal Entity Identifier number registration form above.
2. Submit your application and pay with credit card, PayPal or bank link.
3. Your data will be processed and the LEI number sent to you by e-mail.

Your application will be sent for data validation as soon as you have submitted the payment. In 90% of the cases you will receive your legal entity identifier within 1-24 hours*

*during weekdays


All you need to know about LEIs

1. What is an LEI number?

The Legal Entity Identifier (LEI) is a 20-character, alpha-numeric code based on the ISO 17442 standard developed by the International Organization for Standardization (ISO). It connects to key reference information that enables a clear and unique identification of legal entities participating in financial transactions. Each LEI contains well-structured reference data which is categorized into 2 sections - Level 1 - who is who and Level 2 - who owns whom. Level 1 data includes entity registration details, such as legal name, registration ID, legal and HQ address etc. Level 2 contains information about an entity’s ownership structure and thus answers the question of who owns whom. Simply put, the publicly available LEI data pool transfers unstructured entity registration data into a standardized global directory, which greatly enhances transparency in the global marketplace.

Did you know? 

During the course of creating the GLEIS, it was considered desirable to keep up momentum by beginning to issue entity identifiers as early as possible rather than wait for the global system to become fully operational. It was therefore decided to issue "Pre-LEIs‟ to entities as an interim measure. The Pre-LEIs has all of the characteristics that the official LEIs has and at the right time will simply transform into an LEI without the need for changes.

Source: London Stock Exchange

 

1.1 GLEIF

Established by the Financial Stability Board in June 2014, the Global Legal Entity Identifier Foundation (GLEIF) is tasked to support the implementation and use of the Legal Entity Identifier (LEI). The foundation is backed and overseen by the LEI Regulatory Oversight Committee, representing public authorities from around the globe that have come together to jointly drive forward transparency within the global financial markets. GLEIF is a supra-national not-for-profit organization headquartered in Basel, Switzerland.

GLEIF services ensure the operational integrity of the Global LEI System. GLEIF continuously increases both the information available within and the quality of, the LEI data pool and makes public access to the information ever easier.

Good to know: 

The current CEO of GLEIF is Mr Stephan Wolf. In January 2017, Mr. Wolf was named one of the Top 100 Leaders in Identity by One World Identity.

Source: Gleif.org

1.2 ISO 17442 standard

The International Organization for Standardization (ISO) 17442 standard defines a set of attributes or legal entity reference data that are the most essential elements of identification. The Legal Entity Identifier (LEI) code itself is neutral, with no embedded intelligence or country codes that could create unnecessary complexity for users.

The ISO 17442 standard specifies the minimum reference data, which must be supplied for each LEI. This data is usually referred to as Level 1 Data - Who is who:

The official name of the legal entity is recorded in the official registers.
The registered address of that legal entity.
The country of formation.
The codes for the representation of names of countries and their subdivisions.
The date of the first LEI assignment; the date of the last update of the LEI information; and the date of expiry, if applicable.

 

1.2.1 Level 2 Data - Who owns whom?

Level 2 data answers the question of who owns whom? Its aim is to identify mother-daughter relationships among corporate structures. Only entities whose parent or ultimate parent consolidates the financial accounts of the daughter entity have the ability to report Level 2 data. Mere ownership of the daughter entity does not yet meet the Level 2 reporting criteria for the daughter entity.

Good to know:

If you decide to report Level 2 data (ownership structure), be prepared to provide the latest consolidated financial statement of a parent and/or ultimate parent to validate the mother-daughter relationship.

 

1.2.2 What if my company has a parent entity and accounts are consolidated but I am unable to provide consolidated financial accounts?

Entities can choose either to report corporate structure or choose between relevant reporting exceptions. Reporting exception is a reason not to provide information about corporate structure. More about exceptions can be found here.

2. What is the purpose of an LEI?

The LEI system was initiated as a response to the financial crisis and is aimed at improving transparency in financial data systems. Presently, there are several methods of identifying entities across various markets and countries. However the Global LEI System (GLEIS), when fully operational will ensure that there is just one standard system. There are numerous regulations among jurisdictions that require the use of LEI. However, the main idea of Global Legal Entity Identifier is to simplify, standardise and provide the ease of identification of any legal entity worldwide.

In order to find out more about what is an LEI number, who needs it and why visit the LEI Lookup website. LEI Lookup is an excellent resource for obtaining information about the LEI system and its purpose.

2.1 The use of LEI in financial regulation.

LEI’s are in use worldwide among different jurisdictions. The USA and European Union were the first to adapt LEI in financial reporting. Although LEI adoption also remains uneven across jurisdictions, with coverage concentrated in Canada, the EU and the United States many countries are starting to follow the adaption. Reserve Bank of India (RBI) has mandated the use of LEI in over the counter derivatives market as well as mandating the use of LEI for large corporate borrowers and FX deals. Australia has followed after with ASIC mandating the LEI for derivative transactions.

A full list of regulations related to the use of LEI’s can be found on the GLEIF website.

Fun fact

China is the fastest growing jurisdiction for LEIs in 2019. 

In fact, LEI is free in China for Chinese entities. 

3. Who needs an LEI?

In the most general sense, an LEI is needed by any legal entity whose activities incorporate financial transactions. There are currently around 100 regulations among jurisdictions where the use of LEI is either required or requested. For example more than 60 different acts in US and Europe alone. Access to all the regulations.

Fun fact:

Currently only about 1% - 1.5% of the entities worldwide have an LEI. According to estimations there are more than 100 million legal entities worldwide.

3.1 Usage of LEI under EU Regulation, EMIR and MiFID II / MiFIR

The use of LEI is already required under a number of the European Union regulations and directives, in particular:

- European Markets Infrastructure Regulation (EMIR) - as from 1 November 2017 the EU trade repositories are mandated to reject trade reports that do not contain an LEI (irrespective of whether they pertain to the EU or non-EU market participants),

- MiFID II/MiFIR - the key date is 3 January 2018, i.e. the date when MiFID II/MiFIR enter into force, as from this date market participants will not be able to trade with in-scope investment firms if they do not have an LEI (MiFID II/MiFIR require investment firms to obtain an LEI from their clients prior to providing a service that would result in a transaction reporting obligation),

As of January 3rd 2018, all legal entities which wish to transact in European financial markets involving any kind of securities or derivatives (for example Stocks, Bonds, ETFs, FX Forwards, Swaps, Interest rate Swaps etc.) need to register for an LEI.

It is important to note that only legal entities are eligible to apply for an LEI.
A legal entity only needs to have an LEI if it wants to enter into a transaction for financial instruments.

More about EU regulations.

3.2 Is the LEI compulsory?

As of the 3rd of January 2018, LEI’s are mandatory for trading entities. The European Union (EU) revised Markets in Financial Instruments Directive (MiFID II) and accompanying regulation (MiFIR) came into effect on this date and affects trading venues, investment firms and their intermediaries.

The investment service provider/bank has to make sure the traders have an active LEI if they wish to buy or sell securities. Although it is not mandatory to have an active LEI if you just wish to keep securities, it is highly recommendable to have one. A lapsed LEI or not having one can be a bad surprise one day when you decide to sell your securities.

3.3 Can a private individual apply for an LEI?

Private individuals cannot receive an LEI.

An LEI can be issued to all legal entities. Branch offices or operating divisions that are not separate legal entities are initially expected to use the LEI of their parent organisation.

4. What is the LEI price?

LEI prices can differ among various service providers. The price of an LEI has to do with the organisation’s own pricing structure
and not with a “better” functioning LEI code. LEI is just a tool for identifying legal entities (who participate in financial actions, such as stock investments) for having a clearer view of the worldwide financial transactions to have better insight about financial counterparties identification, transparency and risk exposure.

Therefore it is best to pay attention to the LEI price as the primary factor when registering an LEI code.

LEI Register’s LEI price consists of the initial registration cost for the chosen period and the GLEIF fee. Currently, the GLEIF surcharge is 11 USD per application for 1 year.

LEI prices (new LEI application
and registration fee)
Cost of LEI renewal
1 year - 75$ ($ 75 / year) 1 year - 75$ ($ 75 / year)
3 years - 165$ ($ 55 / year) 3 years - 165$ ($ 55 / year)
5 years - 250$ ($ 50 / year) 5 years - 250$ ($ 50 / year)

4.1 1-year LEI registration

The industry standard for LEI registration is for 1-year. This means that after registering your LEI, the registrant has to renew their LEI code after the 1-year registration period has ended. This is primarily a precaution for legal entities for keeping their LEI data up to date with the corresponding enterprise. Here, you can find more information about LEI renewal.

LEI price for 1-year LEI registration is 75$ with LEI Register.

4.2 Multiyear LEI registration

LEI Register offers multi-year LEI registrations. This brings better prices for the customers and saves them from the yearly LEI renewal burden. Registering LEI for multiple years helps customers save money from each year bought.

LEI price list here

4.3 What is the GLEIF fee?

The GLEIF fee is the LEI license fee, which is passed on directly to the Global LEI Foundation (GLEIF). The GLEIF surcharge is paid by the LOU per issued LEI. The GLEIF uses the fee to cover the cost of the governance of the system and costs related to keep the open and free LEI database up and running. As GLEIF is a non-profit organization the surcharge can be lowered annually if the total number of active LEI’s keeps increasing.

LEI Register’s prices already include the GLEIF fee and the registrants of the LEI do not need to pay any extra costs regarding the LEI registration.

Did you know? 

The current GLEIF fee is 11 USD per LEI per year. GLEIF collects the fee from LOUs with quarterly payments. 

5. How to obtain an LEI?

An LEI can be obtained from the Local Operating Unit (LOU) or from the LEI Registration agent. Legal entities have to register their LEI through the service provider (either through the LOU, Registration Agent or any other LEI service provider) by filling out the registration form. You can find the LEI registration form here.

LEI Register offers a simplistic and convenient registration form without the need to register an account. This helps customers to quickly fill out the form either manually or by using the company data autofill option. The company data autofill option further enhances the user experience and speeds up the process of filling out the LEI registration form.

It is also possible to register for an LEI through the LEI Lookup website. LEI Lookup is a website dedicated to providing information about LEI codes, offering a comprehensive LEI Search tool, as well as Registration and Renewal of LEI codes. LEI Registration on the LEI Lookup site is quick and easy, also offering the entity data autocomplete function, as well as the possibility to input the data manually.

[leiregister_video_iframe]

5.1 Payment methods

LEI Register accepts all the major credit cards (VISA, MASTERCARD, AMEX, MAESTRO) as well as PayPal payments. If there are any difficulties paying with a credit card then please contact us and we will provide you with a proforma invoice with international bank account details to make the payment through the bank transfer.

5.2 Local Operating Units (LOU)

LEI issuers – also referred to as Local Operating Units (LOUs) – supply registration, renewal and other services, and act as the primary interface for legal entities wishing to obtain an LEI. LOUs work closely with registration agents, who help legal entities apply for LEI codes.

Did you know? 

There are currently 34 LEI issuing organisations worldwide. In addition there are numerous organisations helping entities register an LEI, mostly referred as registration agents. See the full list of accredited LEI issuers.

5.3 Registration Agents

To further streamline the issuance of LEIs, GLEIF has introduced the concept of the ‘Registration Agent’. A Registration Agent helps legal entities access the network of LEI issuing organizations responsible for performing LEI issuance and related services. LEI issuers are also referenced as Local Operating Units or LOUs.

5.4 Can I manage LEIs on behalf of my clients?

Any entity or private individual can manage LEIs on behalf of your clients. Of course, a valid Letter of Authorization is required to ensure you are authorized to act on behalf of the given entity.

6. LEI renewal

One of the key benefits of the Legal Entity Identifier is the annual renewal and verification of the data, ensuring trustworthy high-quality data. The quality of this data means that firms can rely on it to reduce counterparty risk and improve their operational efficiencies.

Therefore, LEI renewal is highly important. Legal Entity Identifiers (LEI) which are not renewed in time will lapse. If the status of LEI has lapsed in the GLEIF database, it reflects on your corporate branding and may prevent you from successfully completing a transaction or reporting in the future.

6.1 How to renew an LEI?

LEI renewal is a fairly similar process and is essentially identical to the LEI registration. The customer needs to fill out the form, either by entering the company name or the LEI number to the LEI renewal form. Then, the company data is automatically added to the appropriate form fields. It is important to update all the information that has changed from the initial LEI registration (such as company phone number address etc.).

6.2 How long does it take to renew an LEI?

The renewal of an LEI is a rather quick process on its own, but when it comes to changing the LEI service providers (known as the LEI transfer) then it could take a few days (up to 7 days) for the transfer to be completed.

6.3 LEI transfer

LEI transfer is the movement of the LEI code from one service provider to another. The LEI is transferrable to ensure the client has a choice between the service providers. If the client is not happy with the fees, service or data quality it can move the LEI to another LEI issuer (LOU). In the process of transfer, the LEI number does not change. It is a back-end process that is not visible to end customers. All the LEI codes are valid in every jurisdiction. Investment service providers can not differentiate the LEI numbers according to the LOU.

LEI Register has a special form for LEI transfer and always notifies clients when they decide to renew an LEI when their current LEI is managed by a different LOU.

6.4 LEI renewal prices

LEI renewal prices are the same as LEI registration prices with LEI Register. LEI Register offers multi-year LEI renewals for eliminating the annual burden for clients to manually renew an LEI.

Renewing an LEI for multiple years also helps clients save money from each additional year bought.

7. LEI search

LEI Register offers an LEI search function where it is possible to check the LEI’s validity and view associated company’s data, such as LEI registration details, company address etc.

LEI data gives interested parties the right idea about a company in terms of legal sanctions and authenticity. Authenticity and credibility are easily two of the most crucial parameters that drive financial investment.

International share trading comes with the risk of financial fraudulence. The emergence of globalization and the latest technologies has made life easier for people but has also added the vulnerability associated with online financial transactions. LEI data allows individuals to get all legal information about any listed company, eliminating the chance of financial fraudulence.

Another great resource for finding out more about legal entity identifiers is the LEI Lookup website. LEI Lookup is a fully dedicated legal entity identifier Search website that offers access not only to a comprehensive LEI numbers database, but also an opportunity to register, renew and transfer LEI numbers.

7.1 How to check LEI code validity?

LEI validity can be checked with an LEI Register’s LEI search tool which is very easy to use.
A person looking for an LEI has to enter their company name or LEI number into the search bar. Then, the autosuggestion already helps to choose the right company name or LEI when typing into the search bar.

LEI Search bar:

After pressing enter for the search for the LEI, a new company tab will open up. The LEI company tab allows the option to see if the LEI is active, it shows the initial registration date and the next renewal date. LEI search also provides other LEI data information and information regarding the company itself.

7.2 LEI lookup API

LEI Register offers a convenient LEI lookup API built on Global LEI data pool files offered by the GLEIF. The LEIAdmin.com application programming interface (API) provides developers with the opportunity to directly access the complete LEI data pool in real-time and to perform on-demand checks for changes to specific LEI records in a convenient, easy-to-read format.

The API (Request/Response Web Interface) allows organizations to set up fast, customized and automated access to the Global LEI Index, which contains historical and current LEI records including related reference data in one authoritative, central repository.

Get access to LEI lookup API documentation.

7.3 LEI Data files

The GLEIF updates the GLOBAL LEI reference data files on a daily basis and they are free and accessible from their dataset. (https://www.gleif.org/en/lei-data/gleif-golden-copy/download-the-golden-copy#/).

8. Future of an LEI

Up until today, every identity system has had different ways of using identifiers or identifying customers. Some use many different identifiers, while others use few. There is no consensus.

LEIs have the potential at first, to simplify and globalise a method of validating organisations and mapping identifiers. Tomorrow, this information can be used on a greater scale to understand organisation identity and hierarchy and potentially contribute to newer technological innovations like blockchain.

8.1 Possible use cases

LEIs are the best good solution to solving the issues associated with the less standardised, and less mature organizations domain to improve KYC, digital assurance and more. The future will only widen the LEI use cases.

8.2 LEI and banks

Banks are one example of companies that use different identifiers internally to identify the same customer. Vendors associated with the bank may also use different identifiers. LEI can consolidate some of these issues.

The bank of the future will use LEIs and organisation identity to save time onboarding, make processes more efficient and have a greater understanding of the transactions they are being asked to make, thereby providing a better safety net for the bank and for the clients they work with.

Good to know:

LEI Register has developed an LEI management platform for banks, wealth managers and entities who manage LEI's on behalf of their customers.

Get access to LEI Register’s platform for banks.

8.3 Payment industry (payment messages)

In addition, LEIs could help save money and time in the steps taken to complete a digitalised financial transaction, such as verification of identity, invoicing and signing.

LEIs would enable the immediate, digitised identification of entities and would allow banks to dramatically curtail the time and resources spent on background checks and investigations. It would also reduce the instances of false reporting.

ISO 20022 (driven by Swift) is driving the inclusion of LEIs in payment messages as it becomes the global standard language for financial transactions. Within five years ISO2002 is expected to be the main language for payments, supporting almost all of the value of transactions worldwide. All the entities involved in the transaction need to be verified legal entities.

Whitepaper about the adoption of LEI in Payment Messages

8.4 Digital Certificates

One of the ways that criminals can intercept online communications is by creating fake websites and tricking users into submitting personal information.

In a B2B transaction, we can require that any URLs sending or receiving sensitive information requires an HTTPS encrypted connection tied to a Legal Entity Identifier. So, not only do we know that the information is encrypted but we can be sure that we know who is sending and receiving that information.

Tith high level B2B transactions, this practice can add transparency and assurance that wasn’t previously available.

More about LEI in digital certificates.

Did you know? 

Recently GLEIF accredited LEI Issuer RapidLEI and DigiCert, world’s leading provider of TLS/SSL certificates recently announced a partnership to help to solve organizational identity challenges through the addition of LEIs into future DigiCert offerings.

Read more


FAQs regarding Legal Entity Identifier

LEI Register in Other Countries

LEI:
LEI next renewal date:
Your LEI is currently being managed by [current_lou]. Please note that during renewal process your LEI will be transferred to another GLEIF accredited LEI provider.
The LEI has lapsed, and you must conduct an annual renewal with the transfer process.
Your LEI is currently being managed by [current_lou]. You are about to transfer your LEI under LEI Register management. To complete the process we need to transfer your LEI to our Partner LOU, RapidLEI. RapidLEI is a GLEIF accredited LEI issuer. Please choose below between a regular transfer (LEI will not be renewed) or a transfer with LEI renewal.

What is the difference between an LEI transfer and LEI renewal?



LEI renewal is an annual update of the registration data related to the Legal Entity in the GLEIF database. The data related to the entity has to be updated at least once a year.

LEI transfer is the movement of the LEI code from one service provider to another. The LEI is transferrable to ensure the client has a choice between the service providers. If the client is not happy with the fees, service or data quality it can move the LEI to another LEI issuer (LOU). In the process of transfer the LEI number does not change. It is a back-end process which is not visible to end customers. All the LEI codes are valid in every jurisdictions. Investment service providers can not differentiate the LEI numbers according to the LOU.

LEI Register offers a transfer service with an LEI renewal to ensure the highest level of data accuracy.
To continue with the renewal we first need to transfer your LEI, please use the LEI transfer form to continue with the renewal.
"Dear customer, Your LEI is currently being managed by our partner LOU RapidLEI, but not under our management as a Registration Agent. We appreciate your interest in our service but unfortunately can not currently support your entity. To renew your LEI, please contact RapidLEI directly at [email protected] or visit their partner site to find your local partner. Thank you for understanding! LEI Register Support Team"
Dear customer, You currently have a valid contract with us for LEI code [lei]. The contract is valid until [paid_until]. This means we will take care of the annual LEI renewals for you until [paid_until]. Your can check your LEI data here: [leicert_link] If you need to update your LEI details or have any questions, please contact us at [site_email].
Do you agree with the transfer and continue to renew the LEI with the same application?
You are about to complete the LEI transfer application. As a final confirmation we need to make sure that you have on purpose selected LEI transfer without data renewal. Would you would still like to renew your LEI with the transfer ?