Frequently Asked Questions
The Legal Entity Identifier (LEI) is a 20-digit, alphanumeric code that connects to key reference information that enables clear and unique identification of companies participating in global financial markets. The LEI is based on the ISO standard 17442 developed by the International Organization for Standardization.
The Global Legal Entity Identifier (LEI) System is a federated system including Local Operating Units (LOUs) under contract to the Global Legal Entity Identifier Foundation (GLEIF), end users accessing the LEI Repository via an open data license, and other partners collaborating with or supporting GLEIF through an individual agreement. The LEI Regulatory Oversight Committee carries out the regulatory oversight of the Global LEI System.
Established by the Financial Stability Board in June 2014, GLEIF is a not-for-profit organization created to support the implementation and use of the Legal Entity Identifier (LEI). GLEIF is headquartered in Basel, Switzerland. GLEIF services ensure the operational integrity of the Global LEI System. GLEIF also makes available the technical infrastructure to provide, via an open data license, access to the full global LEI repository free of charge to users. GLEIF is supervised by the LEI Regulatory Oversight Committee, which is made up of representatives of public authorities from across the globe.
The Legal Entity Identifier (LEI) connects to key reference information that enables clear and unique identification of legal entities participating in financial transactions. The information available with the legal entity reference data to date is referred to as ‘Level 1’ data. It provides the answer to the question of ‘who is who’. ‘Level 2’ data complement the existing ‘Level 1’ legal entity reference data and answers the question of ‘who owns whom’.
You will have two options in regards to the direct and ultimate parent data. You can choose to not disclose your parent information, in which case you will be required to provide an "Exception Reason" as to why you are not providing parent information.
Exception reasons include:
| Natural Persons | There is no parent according to the definition used, because the entity is controlled by natural person(s) without any intermediate legal entity meeting the definition of accounting consolidating parent. |
| Non Consolidating | There is no parent according to the definition used, because the entity is controlled by legal entities not subject to preparing consolidated financial statements. |
| No Known Person | There is no parent according to the definition used, because there is no known person controlling the entity (e.g., diversified shareholding). |
| Legal Obstacles | Obstacles in the laws or regulations of a jurisdiction prevent providing or publishing this information. AJPES is not expected to verify or analyze whether the legal framework constitutes a legal obstacle. |
| Consent Not Obtained | Obstacles in the laws or regulations of a jurisdiction prevent providing or publishing this information: “the consent of the parent was necessary under the applicable legal framework and the parent did not consent or could not be contacted”. AJPES is not expected to verify or analyze whether the legal framework constitutes a legal obstacle. |
| Binding Legal Commitments | Binding legal commitments (other than the laws or regulations of a jurisdiction), such as articles governing the legal entity or a contract, prevent providing or publishing this information. AJPES is not expected to verify or analyze whether the legal framework constitutes a legal obstacle. |
| Detriment not Excluded | The child entity has sought to consult the parent entity about the reporting of the parent information to the GLEIS but could not confirm the absence of detriment in a way that can appropriately prevent liability risks for the child entity (or those acting on its behalf) under the applicable legal framework. The disclosure of this information would be detrimental to the legal entity or the relevant parent. This will include reasons generally accepted by public authorities in similar circumstances, based on a declaration by the entity. |
| Disclosure Detrimental | The disclosure of this information would be detrimental to the legal entity or the relevant parent. This will include reasons generally accepted by public authorities in similar circumstances, based on a declaration by the entity. |
If you choose to Disclose the parent of your entity, you will be required to select whether the parent has an LEI or does not have an LEI.
There are both an initial registration fee and an annual maintenance fee.
Legal Entity Identifier (LEI) issuers – also referred to as Local Operating Units (LOUs) – as AJPES, supply registration, renewal and other services, and act as the primary interface for legal entities wishing to obtain an LEI.