An LEI for all eventualities

Banks, investment companies and societies conducting derivative transactions have been already requiring a Legal Entity Identifier (LEI) for years. According to the new EU legislations, the worldwide-standardized identification number will become mandatory as of January 2018 for all transactions subject to disclosure obligation. Investors can rejoice in an increased transparence.

That the financial crisis ten years ago could propagate into the entire world was greatly due to numerous obscure company networks and international capital flows, which no one was able to clarify anymore.

More transparence on the financial markets.

The G20, the group of the twenty most important industrial and emerging countries, drew the conclusions of the lack of transparence on the financial market and decided to establish a system, which reliably identifies the legal entities and their worldwide, respective financial transactions: the Legal Entity Identifier (LEI). The 20-digit, alphanumeric code based on the ISO standard 17442 aims to disclose the most important data of legal entities. Similarly to the tax identification number for private individual, the LEI is assigned “for life”, however it has to be reactivated each year.

You can read the full article for free and find all the important information on the LEI here: AnlegerPlus (OV in German) or our English tranlation.

Sven Schenkluhn
En tant que Directeur Général Adjoint Allemagne, Sven est responsable du département Service de Données d'EQS Group et du développement de l'EQS LEI MANAGER.
As Deputy Managing Director Germany, Sven is responsible for the business unit Data Services of the EQS Group and for the development of the EQS LEI MANAGER.
Sven è Deputy Managing Director Germany ed è responsabile della devisione Data Services dell’EQS Group e dello sviluppo dell’EQS LEI MANAGER.
Sven ist als Deputy Managing Director Germany verantwortlich für den Geschäftsbereich Datenservices der EQS Group und die Entwicklung des EQS LEI MANAGER