LEI Registration Consultants

LEI Registration Consultants

LEI Registration Consultants is responsible for the application process, renewal, and maintenance of LEI codes. They can help businesses and organizations obtain a new or renew their existing LEIs. They also manage the relationship between the entity and the LOU. This can make it easier for companies and organizations to register for the new LEI and obtain the benefits that come with it.

LEIs are required for any legal entity participating in financial transactions or operating in the global financial ecosystem. They are mandated by EU directives, such as the EMIR and MiFIR, as well as US laws such as the Dodd Frank Act and OFR. Without them, finding a counterparty in the global financial ecosystem was difficult, if not impossible.

The LEI registration process involves collecting and verifying entity data from the relevant official business registry. This requires a valid application and payment of fees. Once the application and payment process are complete, the LEI is published to the GLEIF database. After this, the customer receives a notification of the completion of the process.

Companies must also remember that LEI codes are valid for a year. If they do not renew them on a regular basis, they will lose money. An unaccredited issuer may sell your company or personal information to third parties.