News - Read more about LEI numbers from Australia LEI
From 1 April 2019, market participants are required to comply with ASIC Derivative Transaction (Reporting) Rules (F2015C00262)

News

When do you need a Legal Entity Identifier?

ASIC has been increasing supervision over the Australian Derivatives market over the past years. In 2013, they introduced the ASIC Derivative Transaction (Reporting) Rules (F2015C00262), which require counterparties to OTC derivative transactions to identify the various parties (except individuals) to the transaction. This can be achieved via several mechanisms, of which an LEI code is […]

Machine-Readable LEIs trust in corporate transactions

The Global LEI Foundation (GLEIF) has given us a glimpse of what’s to come. The organisation’s alphanumeric LEI code was embedded into its 2018 financial report. It’s the first official business report to have verified LEI reference data published with the electronic version of the document.  The report was also published with the embedded signatures […]

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 […]

Why use an official registration agent when applying for an LEI code?

If you are looking for, applying for or renewing an LEI code, you’ll find various web pages offering fast and secure LEI registration services. Most of these websites collect data using online forms and, in the case of official registration agents and Local Operating Units, this data is used to register or renew LEI code. […]

Transferring an LEI code to Australia LEI

Companies apply for an LEI through a service provider, like Australia 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 […]

LEI registration in other countries

LEI registration process varies between different countries and jurisdictions as not all countries have a local LEI issuer (LOU – Local Operating Unit) and most of the LOUs can issue LEIs only to specific regions. Therefore, the GLEIF has introduced the concept of Registration Agents (RA), where most of the RA-s are directly connected to […]

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 […]

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 […]

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. According to the MiFID II […]

The business benefits of LEI adoption

LEIs are quickly being adopted by jurisdictions around the world. The unique 20-digit codes are now mandatory for many companies operating within Europe, North America, Australia, and Asia. While registering for an LEI may be compulsory for your company, the widespread adoption of LEIs comes with a host of benefits for financial services businesses. Promoting […]