Can a business invest in stocks?
A corporation can invest in stocks through a brokerage account the same way an individual would. The corporation can also invest in stocks by purchasing shares of stock in other companies, either through a public offering or privately. Continue reading...
GLEIF’s verifiable LEI issuer qualification program
GLEIF (the Global Legal Entity Identifier Foundation) has launched its new Verifiable LEI Issuer Qualification Program. This program is designed to help businesses everywhere establish trust with their partners and customers through the use of LEIs (Legal Entity Identifiers). The Verifiable LEI (vLEI) will play a critical role in this process by allowing businesses to automatically verify the identity of their partners and customers. Continue reading...
Do I need an LEI when selling shares?
When you're looking to sell shares, a Legal Entity Identifier (LEI) is something you'll need. In this article, we'll discuss everything you need to know about this important identifier and how it benefits your business. Continue reading...
Business transparency: How to create an environment of trust?
Quite simply, you can define business transparency as the act of being open and honest with all stakeholders - employees, customers, suppliers, and the community at large. In this article, we will explore what transparency means for business leaders and how they can create an environment of trust within their organizations. Continue reading...
Anti Money Laundering (AML) in banking: Everything you need to know
Money laundering is the process of disguising the origins of money that has been obtained illegally. Anti Money Laundering (AML) regulations are put in place to prevent banks and other financial institutions from being used to launder money. In this article, we will discuss AML in banking and how it affects financial institutions. We will also provide a detailed overview of the AML process and discuss some common AML compliance issues. Continue reading...
KYC in banking: Why it’s important and how to comply?
KYC, or Know Your Customer, sometimes Know Your Client is a critical process in the banking industry. KYC's purpose is to ensure that banks are doing business with legitimate customers and that they are complying with KYC bank regulations. The importance of KYC cannot be overstated - it helps protect both the customer and the bank from fraud and other illegal activities. In this article, we will discuss why KYC is so important and how you can comply with KYC bank regulations. Continue reading...
Corporate structures demystified: What you need to know?
There are a variety of corporate structures that businesses can choose from, and it can be confusing to know which one is right for your company. In this article, we will demystify corporate structures and explain the different types that are available. We'll also look into the benefits and drawbacks of each type so that you can make an informed decision about which structure is best for your business. Continue reading...
What is a parent company and how does it work?
A parent company is a company that owns another company. Parent companies can be in charge of the day-to-day operations of their subsidiaries, or they can simply provide financial and managerial support. In most cases, parent companies are larger than their subsidiaries and have a more significant role in the overall operation of the business. Continue reading...
How long does it take to get an LEI?
Depending on how accessible are the local company registries and whether the verification process can be automated, the LEI issuing time could be anywhere between a few minutes to 24 hours. Continue reading...
ISO 5009 – Identifying organizational roles
In 2022 the organization came out with a new standard ISO 5009: to recognize official organizational roles in a business entity with digital IDs, which can be used to authenticate the identity of authorized representatives for meeting the KYC and related regulatory requirements of business transactions. Continue reading...
ISO 17442 – Standard for LEI code structure
The International Organization for Standardization (ISO) is a global, independent, non-governmental standard development organization, composed of representatives from the national standards organizations of member countries. These standards are formulas for doing something- they can be about making products, managing processes, or delivering services - covering a huge range of activities. Continue reading...
ESRB discusses the future of LEI
The European Systemic Risk Board (ESRB) published an occasional paper to talk about the importance of the Legal Entity Identifier (LEI). The ESRBs role in the European Union (EU) is to avert and mitigate risks within the financial system. The paper views the opportunities presented by LEI to enable faster, cheaper, and more secure transactions not just within financial markets but for all legal entities globally. Continue reading...
Legal Entity Identifier (LEI) vs Business Registration Number (BRN) in Hong Kong
The Legal Entity Identifier (LEI) is a standard identifier that provides verified data on legal entities and is registered on a centralized system, the Global LEI System. Every business operating in Hong Kong requires a Business Registration Number (BRN). Continue reading...
What documents are required for LEI Registration in Hong Kong?
The required documentation when obtaining an LEI varies depending on the entity's country of origin. In Hong Kong, when registering for an LEI there are usually no extra documents required. Continue reading...
Who is an LOU in the LEI dimension?
A Local Operating Unit (LOU) is an authorized organization that issues LEI codes. You'll find a list of official LOUs (or LEI Issuers) on the GLEIF website. LOU-s supply registration, renewal, and other services related to the LEI code. Continue reading...
GMEI Utility vs LEI Register
The Global LEI System is designed to encourage competition between LEI issuers and registrators for the benefit of legal entities seeking to obtain an LEI. Coming up with the price of issuing and maintaining an LEI has therefore been left to the organizations themselves. This explains why some companies charge double the price of their competitors. Continue reading...
Lapsed LEI – Why should you keep your LEI active?
Your Legal Entity Identifier (LEI) must be renewed annually. Failure to renew the LEI will change it from an ACTIVE status into a LAPSED status in the Global LEI System index. A lapsed LEI can cause major inconveniences, as your trades will be blocked and as a financial institution, you even face a risk of non-compliance fines. Continue reading...
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. Continue reading...
Can an individual have an LEI?
As the name suggests, Legal Entity Identifier (LEI) is meant for legal entities, not individuals. To date, an individual person or a group of people cannot register for an LEI. Whereas having an LEI is a requirement for legal entities worldwide. Continue reading...
Who needs an LEI number?
Who needs an LEI number? LEI is needed by legal entities who take part in financial transactions and who wish to trade in financial markets, such as buying stocks, bonds, or other securities. There are also many regulations (dependant on jurisdictions) that require obtaining an LEI. Continue reading...
Why is an LEI code required?
A Legal Entity Identifier number or code is required to ensure a more transparent financial market. The initiative was created after the 2008 global financial crisis, hoping to avoid any future global economic shocks of that severity. T Continue reading...
Do LEI numbers need to be renewed?
The Global LEI System was created for a more transparent and accurate identification of legal entities that operate within today’s financial system. In order to keep the data relevant and up to date, the LEI numbers need to be renewed annually. Once your deadline passes, the registration defaults to "lapsed" and you won't be able to make any trades until the number has been renewed. Continue reading...
How much does an LEI code cost?
The Global LEI System (GLEIS) has been set up in a way where LEI cost can differ among various service providers. Obtaining an LEI number can cost you anywhere between $65 to $200, depending on who you're registering with. Since the number needs to be updated yearly - the costs will start to add up. For this reason, we encourage you to pay close attention to the price and take it as the primary factor when registering an LEI code. Continue reading...
LEI Lookup – Fully dedicated LEI search website
The LEI database, which is managed by the Global Legal Entity Identifier Foundation (GLEIF), is completely transparent and accessible to everyone - regulators, businesses and other entities - regardless if they possess an LEI code themselves. This guarantees transparency between the parties involved in any financial transaction. As the LEI codes are renewed each year, the database can be relied upon to display only up to date information. The LEI Lookup website not only offers information about the LEI code and its uses, but also a comprehensive Search tool, as well as LEI Registration, Transfer and Renewal service. Continue reading...
ISIN to LEI mapping
Within the world of hundreds of thousands companies, there are two primary identifiers used in finance. The first one being The International Securities Identification Number, otherwise known as ISIN, second The Legal Entity Identifier known as an LEI. These identifiers have a lot in common, they're both used to increase transparency and made up of alphanumeric digits with check numbers. Continue reading...
GLEIS | Global LEI System
The Global LEI System (GLEIS) was born out of the 2008 Global Financial Crisis (GFC), when it became apparent that there was a greater need for transparency and security. GLEIS ensures straight forward, unambiguous identification of participants in financial transactions. Continue reading...
MiFID regulation | MiFID II LEI
MiFID is the Markets in Financial Instruments Directive. Applicable across the European Union since November 2007. Being a cornerstone of the European Union's regulation of financial markets looking to improve their competitiveness by generating a single market for investment services and activities, and to guarantee a high degree of systematised protection for investors in financial instruments. Continue reading...
vLEI
vLEI will give legal entities, government organisations and organisations worldwide the ability to use non-repudiable identification data pertaining to their legal status, ownership structure and authorised representatives in their business activities. Continue reading...
GLEIF | Global Legal Entity Identifier Foundation
GLEIF is uniquely positioned in the entity identification market, agnostic to any particular political and/or commercial interests. The foundations' overhaul is to ensure the operational integrity of the Global LEI System. GLEIF is the one behind continuous improvement of the information available within, and the quality of, the LEI data pool. Continue reading...
Company autocomplete by LEI Register
The newest addition for optimising user experience being an autocomplete plugin. “Company Autocomplete by LEI Register” is open source software, by enabling this plugin it'll add an autocomplete function to the company name field in your standard Woocommerce checkout form. Continue reading...
Open LEI
Before the widespread adoption of the open LEI system, there were many inefficient, predominantly proprietary identifiers that, more often than not, provided false or outdated information. These shortcomings were a severe problem, particularly in financial markets, where the regulators, banks or other market participants were unable to access valid information about their counterparties. Continue reading...
European Market Infrastructure Regulation | EMIR
European Market Infrastructure Regulation (EMIR) is a European Union regulation for over-the-counter (OTC) derivatives, central counterparties as well as trade repositories first introduced by the EU in 2012 in fulfilment of their commitment at the G20 summit, an international forum for the governments and central bank governors of the European Union and 19 other countries promoting international financial stability. Continue reading...
What is an LEI database?
LEI database has greatly simplified dealing with international clients as there's no need for a time-consuming background check where previously the only information being relied upon was the company's own internet presence and local registry listings; often leading to hours of translating and web browsing with little confidence of the authenticity. Continue reading...
Legal Entity Identifiers in cryptocurrency
As cryptocurrency and the blockchain continues to get more press and more market spending, there are questions to answer about identity verification. Could Legal Entity Identifiers be the answer to some of those questions? Continue reading...
Legal Entity Identifiers in KYC
KYC is a process of understanding who you do business with and assessing their suitability or risk to your organisation. Banks, insurers, creditors and more are increasingly demanding (thanks to the global drive in KYC regulation) that customers provide due diligence information to ensure they are who they say they are. Continue reading...
Digital identity predictions for 2020
A national identity scheme tell us a lot about the state that creates it. Schemes come in many forms with the government taking many roles from identity issuer to regulator. What does 2020 have in store for digital identity? Here’s some of our predictions. Continue reading...
The future of cybersecurity – Deloitte
Deloitte publishes its “Future of Cyber Survey” after surveying over 500 C-suite executives with responsibility of cybersecurity in organisations that make at least $500 million in annual revenue. We will review and summarise some of the findings of the survey in this blog. Continue reading...
Legal Entity Identifiers in digital certificates
Digital certificates are hugely important in encrypting the internet. Whether it’s for encrypting a website and adding the ‘S’ to HTTPS or it’s encrypting and signing a digital document like a PDF, digital certificates are everywhere. Up until now, they have solved some great security challenges on the internet by encrypting networks and communication channels. However, as we know, encryption is not always enough. Continue reading...
Broad adoption of LEIs could save the global banking sector US $2-4 billion
The banking industry could save between US $2-4 billion in client onboarding and if more widely adopted they could help the banking industry save between 5-10% globally. This represents a total figure of around $40 billion USD. Continue reading...
Legal Entity Identifiers for government entities
The LEI ROC is looking to create a new item called “general government entities” which could be filled out separately and help to clarify, if there is no parent entity, at least what industry these entities belong to. Continue reading...
The European Market Infrastructure Regulation (EMIR) and Legal Entity Identifiers (LEIs)
The EMIR regulation has mandated EU trade repositories, starting on November the 1st 2017, to reject trade reports without a Legal Entity Identifier or LEI, regardless of whether the reports pertain to EU or non-EU market participants. Continue reading...
The FCA will take pragmatic approach to supervising reporting on Brexit Day
The FCA is aware that leaving the EU on a working week may pose some additional challenges and suggests that firms should take reasonable steps to stay compliant with MiFID and EMIR trade reporting requirements post-exit. Continue reading...
Adoption of LEI in payment messages by the Payments Market Practice Group (PMPG)
In September, the Payments Market Practice Group or PMPG was set up by SWIFT to bring together payment industry practitioners and define market best practice. They published a paper on the Adoption of LEI in September 2019 and we have decided to bring a short summary of the main points in this post. Continue reading...
RegTech London – Event Summary
RegTech took place on 3rd October 2019 in St Paul’s London. The event was aimed at exploring how the financial services industry can leverage technology to innovate, cut costs and support regulatory change. St Paul’s saw a culmination of start-ups, technology providers, financial institutions, regulators and practitioners for a day of networking, seminars and collaboration. Continue reading...
Cybersecurity in a Nutshell
Modern businesses run on data. Unfortunately, our data and networks are more vulnerable than ever. We cannot help but hear the daily news of cyber attacks and the massive problems they create. Even a minor breach creates a significant financial hit for an organization, not to mention the downtime and reputational damage. A major breach can spell disaster. Continue reading...
How to get an LEI in Hong Kong?
Registering a Legal Entity Identifier (LEI) is a simple process. It comes down to picking out a suitable service provider and filling out an application form. From there the service provider will validate the data you provided and get back to you with an LEI number/code. Continue reading...
What is LEI-search?
LEI-search.info offers the most important information when it comes to Legal Entity Identifier providers. Potential customers can easily find the most suitable LEI code provider based on the LEI code’s price, LEI code’s average processing time, payment methods or the website language. The Legal Entity Identifier’s table is sortable by registration price, renewal price or by the average processing time. Continue reading...
LEI Register and RapidLEI Announce Official Partnership
London, UK and Tallinn, Estonia. January 10, 2019 - LEI Register, a leader in the provision and management of Legal Entity Identifiers (LEIs), and RapidLEI, a fully accredited LEI issuer specialising in the automation of the LEI issuance process, today announced a partnership. LEI Register will offer LEIs issued by RapidLEI, to make the registration of LEIs faster and more accurate for their global customers. Continue reading...