Who belongs to whom?
Level 2: Improvement of the LEI Datastock
Who belongs to whom?
The objective of the LEI system is the untangling of international financial flows. In Level 1 the so-called business card data of the legal entities were asked for, this includes the official name and address of the company, the country of origin and the data of the first LEI Assignment as well as the last update. With the inclusion of the level 2 data, the data stock has successively improved since May 2017. Here the question is: Who belongs whom?
The level 2 data provides answers about the direct and ultimate parent companies of a legal entity. They inversely also give information on which legal entities belong to an individual company.
According to the Business Report of the Global Legal Entity Identifier Foundation (GLEIF) for the second quarter, level 2 data were collected for more than 14,000 newly issued LEIs as well as around 42,000 LEIs, which were extended in the last two months of the second quarter of 2017. The collection and validation of the data for these LEI, which were granted earlier, happens with the annual renewal of the financial identification number.
In the Business Report of the Global Legal Entity Identifier Foundation for Q2 / 2017, GLEIF has evaluated the existing level 2 data:
•14 percent of legal entities reported parent companies with a LEI, 33 percent reported parent companies without LEI.
• Approximately half of the legal entities indicated that they had no parent company, according to the definition used. Approximately 3 percent of the legal entities indicated that they cannot report or publish any data on parent companies due to legal obstacles.
• 193 of the ultimate parent companies have more than five Subsidiaries; The maximum number of subsidiaries for each Ultimate parent company is 619.
• 222 legal entities acting as direct parent companies have more than five subsidiaries; The maximum number of subsidiaries for each direct parent company is 262.
The historical and current LEI entries including all data are stored in the Global LEI Index– the world's only online source, from which open, standardized and high quality reference data on legal entities can be taken. Anyone interested has free access to the entire LEI data base.
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