The new reporting regulations mean that as of April 2019 you are required to have a Legal Entity Identifier (LEI) when trading in financial instruments!
In the field of OTC derivatives and securities transactions in particular, reporting the LEI number creates greater transparency and economic certainty for all parties involved and is already a legal requirement for legal entities as a result of both the European Market Infrastructure Regulation (EMIR) and the Markets in Financial Instruments Directive II (MiFID II).
Since April 2019 a new version of the ISO standard 17442 has been in place. This now means that individuals acting in a business capacity, such as self-employed natural persons acting in a commercial capacity as well as freelancers are required by the supervisory authorities under Article 9 EMIR to have an LEI when engaging in the aforementioned transactions. This includes, for instance, self-employed lawyers, tax advisors, doctors, traders, architects, artists and culture professionals, farmers etc. Natural persons acting in a private capacity continue to be exempt from the LEI requirement. The additional reporting obligation under Article 26 (1) MiFIR now requires you to have an LEI, too.
Bearing in mind that “No LEI equals no trade”, you too should ensure your commercial ability to act on the financial markets and apply for your individual LEI from us today!
The Legal Entity Identifier Register (LEIReg) of the Bundesanzeiger Verlag GmbH is an official LEI issuing agency accredited by the Global LEI Foundation (GLEIF), making us your competent LEI partner.
Applying for your individual LEI on our online portal is easy – click on the link below to get started:
LEI Application
If you have any questions on the application and issuing process just call our LEI experts who will be happy to help!
for freelancers +49 800 1234335
for financial institutions +49 221 97668300
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