Frequently Asked Questions
What is an LEI?
An LEI (Legal Entity Identifier) is a uniform code for legal entities as part of an international identification system. It combines key reference information that enables clear and uniform recognisability or identification of legal entities who are parties in global financial transactions.
It is composed of 20 alphanumeric signs assigned in accordance with ISO standard 17442/2012.
The first four characters of an LEI are occupied by a uniform identifier prefix and designate the entity assigning an LEI. The identification prefix is 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 control numbers in accordance with standard ISO/IEC 7064 (MOD 97-100).
Who needs an LEI?
In accordance with standard ISO17442 every legal entity acting as a stakeholder in financial transactions needs an LEI, although obligations are determined by the national legal system or regulator, respectively. Currently an LEI is required by legal entities entering into transactions with derivatives and are bound to report in accordance with EU European Parliament and Council Regulation 648/2012 on OTC derivatives, counterparties and trade repositories (EMIR).
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.
Which data on legal entities does LEI include?
- Company or legal entity or fund name
- Business address
- Business registry reference number
- Name and country of registration authority
- Legal organisational form
- Data on eventual winding up of legal entity
- Date of initial registration for LEI
- Date of last data update
- Date and reasons for an inactive LEI
As the standard develops the scope of data may expand.
Why should I choose KDD to allocate or maintain LEI?
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) that are allocated to issued securities or financial instruments.
In addition to the experience it has obtained in managing a vast 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.
KDDLEI enables you to request, transfer and maintain your LEI records. By logging in you can monitor your LEI Status, view your LEI details, add documentation and fulfil annual renewal obligations.
You can also search LEI records and download data files.
How do I submit an application for allocation or transfer of an LEI to KDD?
You may submit your application
- Through our website subject to registration,
- By e-mail: email@example.com
- By post: KDD d.d., Tivolska c. 48, 1000 Ljubljana.
What must an application include?
The required details and supporting documents are set out in the KDDLEI User Manual.
We have already obtained an LEI and it is currently maintained by a local operating unit outside Slovenia. Can I transfer an LEI to be maintained by KDD?
Of course. Regardless of which operating unit assigned your LEI, you can transfer it to KDD.
Where can I find already assigned or maintained LEIs?
Each local operating unit publishes a list of LEIs that it maintains. The list of LEIs maintained by KDD is updated daily and is available on the KDDLEI website.
The list of all issued LEIs maintained by various local operating units is available on the GLEIF website.
What is the cost of obtaining and maintaining an LEI?
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 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 20 USD per allocated LEI.
Which services are included in the fee for allocating and maintaining an LEI?
In accordance with requirements under the LEI standard KDD verifies and harmonises the updates and accuracy of data with LEI holders. If data is accurate and valid, it is available to the public together with the LEI on our website, free of charge.
- Receiving and reviewing applications
- Verifying whether an applicant has not yet been assigned a codes
- Collection, regular verification and revalidating records on the legal entities
- Free publishing of data on the websites
- Annual renewal reminders
- Payment of the fee due to the organisation managing the global system of LEI (GLEIF)s
What is a Direct Parent and what is an Ultimate Parent?
The LEI ROC retains the following definitions:
- The “direct accounting consolidating parent” of legal entity X would be defined as the lowest level legal entity that prepares consolidated financial statements that consolidate entity X, based on the accounting definition of consolidation applying to this parent.
- The “ultimate accounting consolidating parent” of entity X would be the highest level legal entity preparing consolidated financial statements that consolidate entity X, based on the accounting definition of consolidation applying to this parent.
Where can I get more information?
For additional information, please send an e-mail to firstname.lastname@example.org or call us on +386 1 3073500.