Who needs an LEI code?
Any company that is a legal entity may obtain a Legal Entity Identifier and get indexed on the official LEI register. With new regulations authorizing LEI inclusions every month, more and more jurisdictions and industries require LEI codes. As of June 2021, over 120 regulations mandate LEIs both globally and locally. Among them are MiFID II, MiFIR, EMIR, FICOD, Dodd-Frank Act, and many others.
From tightly regulated industries such as banking and insurance to the private sector for which LEI codes aren’t even required, companies utilize LEIs for their powerful credibility boost and an added layer of security. If your company falls in one of the following categories (but not limited to) you’re required by law to register an LEI code.
- Investment companies and lenders
- Fund managers
- Institutional Investors
- Exchange officials
- Financial intermediaries
Companies that may still apply for an LEI even if it’s not mandatory:
- Association and branches
- Government bodies
- Limited Companies
- Sole traders
- Business Validation SSL owners
- Extended Validation SSL owners