GLEIF LEI Entity Identifier
Global
2014
Tax & Reporting
Overview
The Legal Entity Identifier (LEI) is a 20-character alphanumeric code that uniquely identifies legal entities involved in financial transactions. It is defined by ISO 17442 and administered by the Global Legal Entity Identifier Foundation (GLEIF), which was established in 2014 under the direction of the Financial Stability Board (FSB). LEIs promote global financial transparency and risk management by providing standardized reference data for each registered entity.LEIs are mandatory under several international regulations, including MiFID II (EU), Dodd-Frank (US), and similar frameworks in the APAC, MENA , and Americas regions. They are critical for banks, broker-dealers, asset managers, clearinghouses, and regulators to verify counterparties in cross-border transactions and reporting. LEIs must be obtained from accredited Local Operating Units (LOUs) and are subject to annual renewal.
Key Obligations
- Obtain an LEI before entering into reportable financial transactions
- Renew the LEI annually to maintain active status
- Ensure the accuracy of legal entity reference data provided
- Use the LEI in regulatory reporting frameworks such as MiFID II, EMIR, and Dodd-Frank
- Verify counterparties' LEIs when conducting due diligence or reporting
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