Legal Entity Identifier Register - Questions and Answers

Questions and Answers

Questions about general topics of the GLEIS (Global Legal Entity Identifier System)

What is GLEIS?
What is a Legal Entity Identifier (LEI)?
How is the LEI code put together?
Who needs an LEI?
What are the legal foundations?

Questions regarding the LEIReg Platform

How do I register?
How do I obtain a LEI?
How does the activation work?
Which documents have to be provided for an LEI application?
What do I need to consider, if I want to request LEIs for investment asset pools?
Which company information will be published?
How can I complete an application for multiple LEIs?
Why is there a data download?
What data is publically available?
May I, as a foreign company, also apply for a LEI here?

Questions regarding the use of the platform / fees

Does registering on LEIReg incur costs?
Will accessing or downloading LEI information incur costs?
What are the costs of applying for a LEI?

Questions regarding special topics

When will my LEI expire and how can I renew it?
Why can’t I find my requested LEI in the public search?
How can I change the data recorded in the LEIReg?
How do I report errors in the public data of other parties?
Why do I have to give information about the parent recently, if I want to apply for a LEI?
Which purpose serve these disclosures about the parent?
I already do have a LEI and just want to renew it. Do I have to give information about my parent?
Will the information about my parent be published?
My company owns a branch office in a different country – can or do I have to apply for an LEI for this branch office?
Who can run an LEI-application for a branch office?
Can an LEI be applied for a branch office situated in the same country as the main office?
Which documents are needed by a branch office in order to apply for an LEI?
For how long is an LEI of a branch office valid?
Can an LEI for a branch office be applied without the main office having an LEI?
Where can I find information regarding this particular topic?



Questions about general topics of the GLEIS (Global Legal Entity Identifier System)

What is GLEIS?

GLEIS is a federal, international system of contracting authorities for LEIs that is guided by a central unit in the form of a foundation and monitored by a superordinate regulator.

The supervision of the system is performed by the ROC (Regulatory Oversight Committee), in which the envoys of the national finance market Financial Markets Authority (FMA) are represented.

The COU (Central Operating Unit) is an instrument of the GLEIS and was begun as a foundation. It oversees the procedural interrelationship between the LOUs (Local Operating Units) and the COU and makes reports to the ROC.

The LOUs are the national contracting authorities for LEIs. They securely identify and authenticate companies that request and wish to use LEIs.

What is a Legal Entity Identifier (LEI)?

A Legal Entity Identifier (acronym: LEI) is a globally unique identification code for independent legal entities in the financial market, used to uniquely identify every contract partner and every financial transaction worldwide.

LEI codes are issued by Local Operating Units (LOU). If a LEI has been issued by a Pre-LOU with endorsement status as per Regulatory Oversight Committee (ROC) publication, such LEI shall be valid for all transaction notifications. Please refer to the ROC home page for further information.

How is the LEI code put together?

An LEI code is a 20-character alphanumeric combination (according to ISO standard 17442).

Code: XXXXXXXXXXXXXXXXXXXX

XXXX4-character prefix for the LOUs (the Bundesanzeiger Verlag has 3912)
XX2-character separation, reserved
XXXXXXXXXXXX12-character identification of the legal entity
XX2-character checksum formed according to ISO 7064 (Modulo 97-10)

Who needs an LEI?

At this time, all companies who participate in derivatives trading need an LEI, and it has been mandatory to register this with a trade repository according to Article 9 EMIR since 12.02.2014.

The first addressees are the financial counter-parties:

  • Banks / credit institutions
  • Insurance companies
  • Security services companies
  • Investment funds / KVG

Later, the non-financial counter-parties (i.e. all other companies of the real economy) who conclude derivatives contracts) will be addressed. Private persons and legally dependent parts of companies do not need an LEI.

What are the legal foundations?

The duty to register for derivatives business is stipulated in Article 9 para. 1 of the European Ordinance EMIR (European Market Infrastructure Regulation).

Questions regarding the LEIReg Platform

How do I register?

To register, click on the “Register” button, top right.

Registration will be followed by the authentication procedure for your company / institution. The necessary forms will be made available to you in the course of the registration procedure. Please print these forms and send them to the specified address.

You will require an excerpt of your company's registration or similar founding documents, for authentication.

Please contact our Service staff who will gladly assist you with any queries you may have.

How do I obtain a LEI?

Successful registration and authentication of your company / institution is prerequisite to application for a LEI. See also How do I register?

How does the activation work?

Activation process:
The data for the company/institution and the applicant’s capacity to act are examined based on the documents submitted. After a successfully concluded examination, the client will be emailed a confirmation that the account for the LEI application has been activated.

Application process:
After the LEI application is received, a check will be made to determine whether an LEI has already been assigned at another contracting authority (LOU) based on the name of the company. If this check is successful, the LEI will then be assigned, the LEI number emailed to the applying client, and the status set to ISSUED.

Other status of an LEI can be looked up in the “Info” area of the corresponding tool. This area also contains further useful tools for registration, activation and application.

Which documents have to be provided for an LEI application?

In order to apply for an LEI the following documents are required:

Companies which are not registered in the German commercial register, require a current register excerpt (not older than two weeks).

For companies registered in the German commercial register we provide the procurement of the obligatory current commercial register excerpt as an additional service. Therefore you will not incur any costs.

A power of attorney for a responsible contact person regarding the LEI application. The corresponding template is placed on the page registration confirmation under the link “Authentication-PDF”. Alternatively this document is provided under “My Data” in the area “Authentication” - if you are logged on to the platform. Please be so kind and use always this template in order to guarantee a fast processing.

Should your company be in a group relationship and be connected with a direct and/or ultimate parent company, we require (a) document(s) confirming said relationship(s). For example consolidated financial statements or publications in accordance with § 264 HGB can be used therefore. The decisive factor in this respect is that within this document all affiliated companies are specified.

What do I need to consider, if I want to request LEIs for investment asset pools?

If the legally independent investment asset pool is not registered with a register court, then the asset pool’s responsible administrating company, e.g the asset management company, has to register at the platform first. After successful registration, he required LEIs can be requested subsequently for the investment asset pool as well as for the administrating company, if necessary. For bulk requests, please do not hesitate to contact the Bundesanzeiger Verlag.

If the investment asset pool is registered with a register court, e.g. a closed fund, it has to register at our platform as a company. The LEI can be requested by the investment asset pool itself, after successful registration.

Which company information will be published?

  • LEI information
  • Company data
  • Legal address
  • Headquarters

How can I complete an application for multiple LEIs?

If a great number of LEIs are requested, an Excel table can be transmitted after prior agreement. In order to do this, please contact the Bundesanzeiger Verlag via leireg@bundesanzeiger.de or service hotline.

Why is there a data download?

All published LEI data records of the LEIReg are made available daily on the platform. LEIs that are handed over must always be current and publically available, in order to guarantee the principle of transparency in the financial market.

What data is publically available?

Publically available data includes a complete data record containing all data records managed by the Bundesanzeiger Verlag in an XML format. The format contains all fields defined by the ISO standard 17442

In addition, a “Delta” data record is made available that documents all changes from the last-published daily data record.

May I, as a foreign company, also apply for a LEI here?

There are no restrictions to LEIs issued by the Bundesanzeiger Verlag. The LEIs are valid worldwide, not only in Germany.

Questions regarding the use of the platform / fees

Does registering on LEIReg incur costs?

Registering on the website www.leireg.de is free.

Will accessing or downloading LEI information incur costs?

Accessing or downloading LEI information will not incur any costs.

What are the costs of applying for a LEI?

Please refer to our for relevant costs. The following payment methods are supported:

  • on account
  • SEPA direct debit, provided your account address is in Germany

As a company applying for or already in possession of a LEI, you will at the LEIReg benefit from the fact that we have taken into account the levy to the "Global LEI Foundation" (GLEIF) for initial and extended LEIs, in the abovementioned price list since the start of the LEIReg already, irrespective of exchange rate fluctuations. We will not charge you these fees in addition and you may ignore conversion of currencies.

Questions regarding special topics

When does my LEI expire and how can I renew it?

Generally speaking your LEI is not limited in time and - after the initial application - valid for 12 months.

After that the actuality of the “authentication data” has to be confirmed by the owner of the LEI on an annual basis. Then the LEI will be valid for one more year.

To guarantee this, you will receive automatically two month before the expiry date an indication sent to your e-mail-address deposited with us.

Concerning this please note issue 8 in our terms and conditions.

Why can’t I find my requested LEI in the public search?

This could be caused by the following:
a) The entered search term is different from the official spelling of the company’s name.

When making a search, please spell the name of the company (or part thereof) exactly as the company name appears in the trade register.

b) The LEI has not yet been assigned.
When an LEI is requested, it must first be determined whether an LEI already exists for the company from another LOU before it can be assigned.

As soon as the examination is finished, we will disclose the LEI to you by email. In case of discrepancies, we will also notify you by email to discuss the next step in the process.

How can I change the data recorded in the LEIReg?

If the data for a company and/or contact partner is changed, this change must be updated immediately under “My Data” and communicated to the Bundesanzeiger Verlag so that your data can be re-authenticated.

Please send the updated authentication form by post to:

Bundesanzeiger Verlag GmbH, Veröffentlichungsbereich, Team LEI, Postfach 10 05 34, 50445 Köln

or by fax to:
+49(0)221/97668-339

or as a PDF file through email to:
leireg@bundesanzeiger.de

How do I report errors in the public data of other parties?

Please inform us of a data error or duplicate online with the Challenge Form. You can obtain the form via the link “Report Duplicate or Data Error” under the name of the company.

Why do I have to give information about the parent recently, if I want to apply for a LEI?

The complete launch of the LEI proceeds in various steps. Step 1 includes only the identification of the company. Step 2 collects the entities so-called ”Level-2-Data”, which consist of information regarding the respective parent.

Which purpose serve these disclosures about the parent?

Whereas the first step was about answering the question “who is who”, the function of the “Level-2-Data” is to answer the question “who belongs to whom”.

I already do have a LEI and just want to renew it. Do I have to give information about my parent?

Yes, the information of the “Level-2-Data” is necessary for entities that already have a LEI as well.

Will the information about my parent be published?

Yes, the information is published and is available as an XML dataset provided the affiliated parent companies have an LEI. If the parent company does not have an LEI reference data will not be published.

In the absence of a relationship with a parent company or if there are opt-out reasons for the reporting of parent companies, this information will also be published.

My company owns a branch office in a different country – can or do I have to apply for an LEI for this branch office?

Yes, an LEI can be issued for a branch office situated in a different country. But the numbers of the LEIs that are issued to branch offices are limited to one LEI. So should your company own more than one branch office in a different country you should determine which branch office should apply for an LEI.

Who can run an LEI-application for a branch office?

Only the headquarter office can run the LEI-application for a branch office.

Can an LEI be applied for a branch office situated in the same country as the main office?

No.

Which documents are needed by a branch office in order to apply for an LEI?

The following documents are of need in order to validate the branch office:

A current commercial register excerpt originating from the country in which the branch office is situated.

Another document confirming the relationship between the main office and the branch office. This could be, for example, an annual financial statement of one of the two offices.

For how long is an LEI of a branch office valid?

The validity of a branch office`s LEI is one year, too. But its validity is connected to the expiration time of the main office`s LEI.

Should, for example, an LEI been issued on October 01, 2017, but the LEI of the main office loses its validity on December 31, 2017, the LEI of the branch office would lose its validity on December 31, 2017, too, and would have to be renewed.

Can an LEI for a branch office be applied without the main office having an LEI?

No, in order to apply for an LEI for a branch office it is imperative that the main office has a valid LEI-status (status: ISSUED) as well.

Where can I find information regarding this particular topic?

You can find more information on the websites from LEIROC and GLEIF.

You can find two articles discussing this topic here:

http://www.leiroc.org/publications/gls/lou_20161003-1.pdf

https://www.gleif.org/en/lei-data/access-and-use-lei-data/level-2-data-who-owns-whom/lei-roc-policy-on-level-2-data