Questions and Answers

Questions

FAQs on general aspects 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?

FAQs on the LEIReg Platform

How do I register?
How do I obtain an LEI?
How do I transfer an already existing LEI?
Which documents have to be provided for an LEI application?
Which documents have to be provided for the transfer of my LEI?
What do I need to consider if I want to request LEIs for investment asset pools?
What company information will be published?
How do I complete an application for multiple LEIs?
Why is there a data download?
What data is publically available?
Can a foreign company also apply to you for the issue of an LEI?

FAQs on 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 an LEI?

FAQs on specific aspects

When will my LEI expire and how can I renew it?
Why can’t I find my requested LEI using the public search feature?
How do I change my registration data?
How do I change the reference data (e.g. entity-, address-, authorization- or invoice data) of my LEI?
How do I change the details of the authorized contact person?
How can I change my access data for the LEIReg?
How do I report errors in the public data of other parties?
Why must I now provide information on my parent company if I want to apply for an LEI?
What purpose do these disclosures about the parent company serve?
I already have an LEI and just want to renew it. Do I have to provide information on my parent company?
Will the information on my parent company 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 submit an LEI application for a branch office?
Can an LEI application be submitted for a branch office situated in the same country as the main office?
What documents are required in order to apply for an LEI for a branch office?
For how long is an LEI of a branch office valid?
Can an LEI for a branch office be applied for even if the main office does not have an LEI?
Where can I find more information on this topic?



FAQs on general aspects of the GLEIS (Global Legal Entity Identifier System)

What is GLEIS?

GLEIS is a federal, international system of LEI-issuing authorities that is managed by a central unit - the Global LEI Foundation (GLEIF) - in the form of a foundation and monitored by a superordinate regulator.

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

The GLEIF is an instrument of the GLEIS and was initially established in the form of a foundation. It oversees the procedural interrelationship between the Local Operating Units (LOUs) - i.e. LEI-issuing authorities - and itself or the LEI-ROC.

The LOUs are the national LEI-issuing authorities. They securely identify and authenticate entities that request and wish to use LEIs.

What is a Legal Entity Identifier (LEI)?

A Legal Entity Identifier (LEI) is a globally unique identification code for independent legal entities in the financial market, used to uniquely identify every contractual partner and every financial transaction worldwide. Here you will find a short tutorial on LEI for illustration purposes.

LEI codes are issued by Local Operating Units (LOU). If an LEI has been issued by a LOU which is accredited by GLEIF, this LEI shall be valid for all transaction notifications. Please refer to the GLEIF home page for further information.

How is the LEI code put together?

An LEI code is a 20-character alphanumeric combination (in accordance with ISO standard 17442).

Code: XXXXXXXXXXXXXXXXXXXX

XXXX4-character prefix of the issuing LOU (that of the Bundesanzeiger Verlag is 3912)
XX2-character separator, reserved
XXXXXXXXXXXX12-character identification of the legal entity
XX2-character check digits calculated in accordance with ISO 7064 (Modulo 97-10)

Who needs an LEI?

At present, all companies that participate in derivatives trading need an LEI to meet the requirements of EMIR (European Market Infrastructure Regulation) and the Markets in Financial Instruments Regulation (MiFIR, MiFID II).

Transaction registers presuppose the LEI as a mandatory requirement, but regarding the regulation of the financial markets, it is expected that the use of an LEI will still be presupposed by many other authorities and institutions worldwide.

First addressees are the financial counterparties:

  • Banks/credit institutions
  • Insurance companies
  • Security services companies
  • Investment funds/asset management companies

In the context of SFTR (Securities Financing Transactions Regulation), the system will be subsequently extended to any organisations whose activities are not primarily financial in nature (i.e. all other businesses active in the real economy).

Private persons and legally dependent parts of companies will not need an LEI. Special regulations may apply to natural persons who are involved in business activities. You can find more information here

FAQs on the LEIReg platform

How do I register?

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

You will first need to complete initial registration by entering your email address and a personally selected password. You will then receive a registration email that you will need to confirm.

In order to apply for or transfer an LEI, you will need to complete a more detailed registration procedure; you will be instructed to do this in due course.

In this case, you will be required to enter the name of your company/institution, the address of its legally registered office and the name of an authorised contact person. If you are applying for an LEI for more than one company/institution, the details for these will need to be entered at a later stage. During this detailed registration process, the authentication procedure for your company/institution will be initiated.

For this purpose, you will be provided with the necessary forms. You can access the authentication form at any time under "My data"; the form will also be made available for download during the LEI application procedure. Please send the completed and signed form to the address shown or upload it during the subsequent LEI application procedure.

How do I obtain an LEI?

On successful completion of the registration procedure, you will be able to submit LEI applications.

Select "Apply for new LEI" on the start page of the LEIReg website or under "LEI services" to apply for an LEI for a company/institution, an investment fund or a branch office.

On receipt of an LEI application, the information you have entered will be cross-checked against documentation that may need to be submitted, see also Which documents have to be provided for an LEI application?

You can monitor the current status of the processing of your application at any time under "My data" in the section "Application management".

On successful completion of the review, the LEI will be issued; you will be able to view it and manage it as necessary under "My data" in the section "LEIs/Data management".

How do I transfer an already existing LEI?

On completion of registration, LEIs issued by other issuing authorities (LOUs) can be transferred using the LEIReg website.

Select "Transfer LEI" on the start page of the LEIReg website or under "LEI services".

On receipt of your application, the information you have entered will be cross-checked again documentation you may need to submit; see also Which documents have to be provided for the transfer of my LEI?

You can monitor the current status of the processing your application at any time under "My data" or the section "Application management".

On completion of the review, the LEI will be transferred and can be viewed and managed as necessary under "My data" in the section "LEIs/Data management".

Which documents have to be provided for an LEI application?

During the LEI application procedure, a digital confirmation of the right to apply for and manage an LEI will be digitally generated with the help of the information provided by you. Bundesanzeiger Verlag GmbH reserves the right to require a personal signature/a signed power of attorney in certain circumstances.

If the company/institution is entered in a German commercial register, no further documents will be required.

If the company is not entered in a German commercial register, additional documents will be required to complete your application; these are specified in the following.

Should your company be in a group relationship and directly or indirectly affiliated with a parent company, will we require documentary proof of this relationship. Documents that can be accepted in this connection are annual or consolidated accounts that show the names of affiliated companies. These documents will not be required for companies that are entered in a German commercial register.

  • Companies/institutions

Generally required will be documentation confirming the genuine nature of the information provided on your company/institution; ideally, this should include information on the person(s) authorised to represent your company/institution.

Depending on the legal system in your country, these documents may take various forms. The following are examples of suitable documents:

An except from the valid company register, articles of incorporation, articles of partnership, business registration etc.

In addition, it may be necessary to submit the following documents (examples provided) to provide the required information on the person(s) authorised to represent your company/institution:

Certificate of power of representation, record of the election process, appointment to the board etc.

  • Funds and special funds under German law (KAGB)

Required for funds and special funds will be a sales prospectus, an investment strategy document or the authorisation of the BaFin (or other registration body).

  • Individuals who undertake commercial activities

Generally required here will be confirmation of the business- or commercial-related nature of the transaction as only in these circumstances can an LEI be issued. Natural persons who are not undertaking a transaction for commercial or business purposes cannot be issued with an LEI.

Examples of documents that can be submitted for validation purposes include:

Business registration, registration of membership of a professional body etc.

Which documents have to be provided for the transfer of my LEI?

For transfer requests, in addition to the documents listed here, we require the transfer PDF provided in the process signed by you.

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, must be specified during the application procedure. If necessary, it is of course possible to submit an application for an LEI for the administering company.

If the investment asset pool is registered with a register court, e.g. a closed fund, it will be necessary to submit an application for an LEI for the corresponding company/institution.

What company information will be published?

  • LEI information
  • Company data
  • Legally registered address
  • Address of headquarters

How do I complete an application for multiple LEIs?

If you wish to apply for a larger number of LEIs, you may submit the necessary information in an Excel table following prior authorisation. In this case, please first contact the Bundesanzeiger Verlag via leireg@bundesanzeiger.de or our service hotline (+49 221 976680).

Why is there a data download?

All published LEI data records of the LEIReg are made available daily on the platform. LEIs that are issued 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 consisting of all data records managed by the Bundesanzeiger Verlag GmbH in an XML format. The format includes all fields specified by the ISO standard 17442

Can a foreign company also apply to you for the issue of an LEI?

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

FAQs on 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 an LEI?

Please see our price list for current charges, which is attached as part II of our General Terms and Conditions. The following payment methods are supported:

  • Charge to a nominated account
  • SEPA direct debit

As a company applying for or already in possession of an LEI, you will benefit from the fact that we have taken into account the levy payable to the "Global LEI Foundation" (GLEIF) for the initial issue and renewal of LEIs, in our price list since the launch of LEIReg, irrespective of exchange rate fluctuations. We will not charge you these fees in addition and you are thus saved the problem of currency conversion.

FAQs on specific aspects

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

Generally speaking your LEI does not have a fixed term and on initial issue will be valid for 12 months.

Subsequently, the authentication data will need to be validated or updated by the owner of the LEI on an annual basis. The validity of the LEI will then be extended for a further 12 months.

For this purpose, you will automatically be sent a reminder at least two months prior to the expiry date to the e-mail address you have specified. In addition, the Bundesanzeiger Verlag GmbH will also automatically undertake an annual review and renewal by our Auto-Renewal-Service to ensure that all LEIs are valid.

For more details, please go to our information page LEI renewal.

In this connection, please also see section 3.3. "Annual review" of our GTCs.

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

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

When searching, please ensure the name of the company (or part thereof) is written in exactly the same form as it 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 has already been issued for the company by another LOU before it can be assigned.

As soon as this check has been completed, we will notify you of the LEI by email. In case of discrepancies, we will also notify you by email that we will need to discuss how to proceed.

How do I change my registration data?

Please log in and go to „My data“ and click on „Registration data“. You may here perform the desired data change. If you already have an LEI for yourself, you will see a message that you may only perform the change in the „LEIs/Data administration“ area (under „My data“).

How do I change the reference data (e.g. entity-, address-, authorization- or invoice data) of my LEI?

Please log in and go to „My data“ and click on „LEIs/Data administration“. Here you may now request the desired data change through the „Action“ column. Please click through the individual process steps and enter changes where required.

How do I change the details of the authorized contact person?

Please log in and go to „My data“ and click on „Registration data“. If you can no longer change the details of your contact person here – this is the case if you already have an LEI for yourself – then we kindly ask you to send a written request for the change to leireg@bundesanzeiger.de.

You may change the contact and login e-mail address at any time under „Access data“ (in the „My data“ area). Please note, however, that this e-mail and the listed contact person should always match to ensure correct correspondence.

How can I change my access data for the LEIReg?

Please log in with your access data and go to the „My data“ area and here in the master data block to „Access data“. Here you may change your login (e-mail address) and your password.

Please note: If you still have a user name (i.e. no e-mail address) as a login, you may only change it by sending a written request 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 using the Challenge Form. You can download the form via the link “Report Duplicate or Data Error” under the name of the company.

Why must I now provide information on my parent company if I want to apply for an LEI?

The LEI issue procedure involves various stages. Stage 1 merely involves the identification of the company. In stage 2, the so-called level 2 data is collected; this consists of information on the parent company.

What purpose do these disclosures about the parent company serve?

While the first stage involves answering the question "who is who", the level 2 data provides the answer to the question "who owns what".

I already have an LEI and just want to renew it. Do I have to provide information on my parent company?

Yes, level 2 data is also required for entities that already have an LEI.

Will the information on my parent company be published?

Yes, the information will be published and made available as an XML dataset provided the affiliated parent company has 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 is an opt-out with regard to the requirement to report on a parent company, 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. However, only one LEI can be issued for all branch offices located in a specific country. This means it is advisable to decide for which branch office in that country the LEI application should be submitted.

Who can submit an LEI application for a branch office?

Only the company headquarters can submit an LEI application for a branch office.

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

No.

What documents are required in order to apply for an LEI for a branch office?

The following documents are required 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 also 12 months. But its validity is actually determined by the expiry date of the main office`s LEI.

Should, for example, the LEI for a branch office be issued on 1 October 2017 but the LEI of the main office expires on 31 December 2017, the branch office LEI will also expire on that date and would need to be renewed.

Can an LEI for a branch office be applied for even if the main office does not have an LEI?

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

Where can I find more information on this topic?

For more information, see the LEIROC and GLEIF websites.

Two related online publications can be found 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

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