Frequently Asked Questions
LEI (Legal Entity Identifier) is a unique standardised code for legal entities as part of an international identification system. It combines key reference information that enables clear and uniform identification of legal entities and funds which take part in global financial transactions.
LEI is composed of 20 alphanumeric signs assigned in accordance with ISO standard 17442/2012.
The first four numbers of LEI ensure uniqueness among codes from Local Operating Units (LOU) that issue LEIs. The identification prefix was assigned by the Regulatory Oversight Committee (ROC).
These are followed by two provisional numeric characters (00), while characters 7-18 feature eleven randomly generated numerical characters, which refer to the respective legal entity. The last two characters are check digits in accordance with standard ISO/IEC 7064.
In accordance with standard ISO17442 every legal entity/fund acting as a stakeholder in financial transactions needs an LEI, although obligations are determined by the national legal system or regulator, respectively.
The list of regulations identifying entities who are liable to report or assume an LEI, is available on the website of the institution managing the LEI system Global LEI Foundation or GLEIF; Global LEI Foundation or GLEIF.
The information available with the LEI reference data consists of two levels, level 1 and level 2. The "level 1" data provides an answer to the question "who is who". In the next step, LEI data is upgraded with level 2' data that answer the question 'who owns whom', enabling the identification of the direct parent and ultimate parent of a specific legal entity.
As mentioned above, in order to assign an LEI to legal entity, one has to provide Level 1 and Level 2 data. Please see the required information below:
|Business name||Business name|
|Legal address (incorporated)||Legal address (incorporated)|
|Headquarters address||Headquarters address|
|Business number||Business number|
|Entity legal form||Entity legal form|
|Legal jurisdiction||Legal jurisdiction|
|LEI and/or business name of umbrella fund|
|Entity has an direct and ultimate parent||Provide Opt-Out Reasons for reporting when necessary|
|Input the entity's Direct and Ultimate Consolidating Parents by:||Natural Persons: entity is controlled by natural person(s) without any intermediate legal entity|
|• Submission of parents LEI number||Non Consolidating: the entity is controlled by legal entities not subject to preparing consolidated financial statements.|
|• If parent company does not have an LEI, insert the information as for Level 1 data||No Known Person: there is no known person controlling the entity (e.g., diversified shareholding).|
Provide Opt-Out Reasons for reporting when necessary
- Legal Obstacles: Obstacles in the laws or regulations of a jurisdiction prevent providing or publishing this information.
- Consent Not Obtained: The consent of the parent was necessary under the applicable legal framework and the parent did not consent or could not be contacted.
- 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.
- Detriment Not Excluded: The child entity has sought to consult the parent entity about the reporting of the parent information but could not confirm the absence of detriment in a way that can appropriately prevent liability risks for the child 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.
The LEI ROC follows the following definitions:
- Direct parent (controlling) company of legal entity X is defined as a legal entity obligated to prepare consolidated statements involving company X at the lowest level. + Share exceeds 50%
- The ultimate(umbrella) parent company of a legal entity X is defined as a legal entity obligated to prepare consolidated financial statements involving company X at the highest level. + Share exceeds 50%
No, it is always the subsidiary that reports on its parent companies. Therefore, the parent company does not report on its subsidiaries.
The initial, one-time allocation fee amounts to EUR 78,07 EUR + VAT. The allocated LEI is valid for one year.
Every year, you need to revalidate LEI. The annual maintenance fee amounts to EUR 41,13 + VAT.
The fee includes, besides the LOU’s costs, also the licence fee passed to the organisation that manages and maintains the global central database system of LEI (GLEIF). The rate of this fee is the same for all LOUs and currently amounts to 10 € (11 USD) per allocated LEI.
Of course. Regardless of which operating unit assigned your LEI, you can transfer it to KDD.
The transfer itself is free of cost. Transfer process is managed by KDD, the only thing you have to do is file a transfer request.
No, each legal entity is assigned only one LEI for operating worldwide.
KDD assigns and maintains LEIs from legal entities registered in Europe, South America, Asia, Australia and New Zealand.
In addition to the experience it has obtained in managing a scope of registers and assigning international codes and expertise, KDD ensures a fast, simple, cost-effective and user-friendly process of obtaining an LEI or transferring an existing LEI to be maintained in KDDLEI.
KDD's long-standing experience in ensuring a modern, secure and transparent support to the capital market has helped it gain the trust of numerous partners. As a National Numbering Agency in Slovenia and member of the Association of National Numbering Agencies (ANNA), it has over 20 years of experience in assigning international classification codes ISIN (International Securities Identification Number) and CFI (Classification of Financial Instruments) furthermore, for the last couple of years the FISN (Financial Instrument Short Name) are also being assigned, to the issued securities or financial instruments.
For additional information, please send an e-mail to email@example.com or call us on +386 1 307 35 00.