Legal Entity Identifier - overview of related articles - American LEI
Important notice: from 13th April 2021 LEI is mandatory for non-EU (third country) issuers under SFTR regulation

News – Legal Entity Identifier

When do you need a Legal Entity Identifier?

Whilst there is no regulation equivalent to the MiFID II within the US market, its use is becoming more widespread. The Dodd-Frank Act has accellerated the adoption of universal LEIs within the US and further changes that mandate more widespread adoption of LEIs are expected in the future. The CFCT, NAIC, FED and SEC now … Continued

Transferring an LEI code to American LEI

Companies apply for an LEI through a service provider, like American 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 … Continued

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 … Continued

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. The MiFID II directive … Continued

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 … Continued

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 … Continued

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 … Continued

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 … Continued