Are LEIs public?
The Global LEI System was developed for a more transparent global financial market. A company’s LEI will be public and contain data about the company’s registered and trading names; company type; registered address; registration number; parent company information; child company information. You’ll be able to access this public database, free of charge through LEI search.
What is the purpose of an LEI number?
The Global LEI System (GLEIS) was developed by the G20 in 2011, in response to the 2008 global financial crisis. This was when the need for a more transparent financial system became evident. The purpose of the LEI code (a combination of 20 letters and numbers) is to allow the identification of any organization or legal entity on a worldwide database.
What is LEI reference data?
The reference data is public and contains very basic “business card” type of information, otherwise referred to as “Level One” data. It answers the question, “Who is who?”.
The LEI reference data connects key reference information that enables a clear and unique identification of legal entities participating in the global financial markets.
LEI Level 1 data contains:
1. Registered and trading names
2. Company type (e.g., Fund, Trust, limited liability company)
3. Registered address(es)
4. Company registration number
5. Parent company information
6. Child company information
Are LEIs public?
A company’s LEI data will be publicly available, completely free of charge, and can be accessed by anyone through LEI database. This provides a more transparent global marketplace and offers businesses a one-stop approach to identifying legal entities, which has the potential to take the complexity out of business transactions.
What is LEI search?
LEI number search will reveal the information contained within a Legal Entity Identifier. It can be used to check the validity of an LEI code or ensure that any information held on an entity is up-to-date. To make sure the information on the LEI database is recent and relevant, the LEI code needs to be renewed annually.
On the LEI search, you’ll find out about the company’s registered and trading names; company type; registered address; registration number; parent company information; child company information.
How do I find a company’s LEI?
You’ll be able to complete an LEI number search using either the name of the company or their LEI number. From there, the search tool will automatically display all the LEI information accessible through the database. You can also filter the results of a Legal Entity Identifier search by country. This should ensure that fewer results need to be explored.
What are LEI registration fees?
Advanced development of the Global Legal Entity Identifier System, known as GLEIS, is carried out by the Global Legal Entity Identifier Foundation (GLEIF). They’ve partnered with Local Operating Units (LOUs) – responsible for issuing LEI Codes. LOUs such as Ubisecure Oy (RapidLEI) may partner with an Official GLEIF Registration Agent such as LEI Register. Our role is to provide support and efficient service to market participants who need an LEI for their organization.
Obtaining an LEI number can cost between $99 to $300, depending on who you’re registering with. It’s important to note that the service provider’s profit formula determines the price of your LEI code and has nothing to do with the value of the LEI code itself.
LEI Register is one of the biggest and most inexpensive LEI service providers worldwide. LEI Register’s LEI price consists of the initial registration cost for the chosen period and the GLEIF fee ($11 to date).