LEI-Code

What is an LEI-code?

The LEI code is a unique global code that identifies legal entities. The LEI code allows us to identify the contract parties that engage in transactions on the financial markets. This makes it easier for the regulators to identify possible systemic risks more quickly. It offers transparency and monitors the stability of the financial markets. The LEI code is a 20-character, alphanumeric code.

 
Who must have an LEI code?

MiFID II states that all legal entities that engage in transactions on the financial markets must have an LEI code, not just customers who are subject to the European market infrastructure regulation (EMIR). EMIR made the code mandatory for derivatives and MiFID II has expanded this to a wide range of financial instruments. There are no exceptions to this rule: if a customer does not have an LEI code, no transactions can be executed ('No LEI, No Trade').

Only legal entities must apply for an LEI code. The following summary lists the entities that must have an LEI code:

Entity type (French name) Entity type (Dutch name)  LEI-code required?      
 
Société Privée à Responsabilité Limitée (SPRL) Besloten Vennootschap met Beperkte Aansprakelijkheid (BVBA) Yes                            
Société en Commandite Simple (SCS) Gewone Commanditaire Vennootschap (Comm. V.) Yes
Société en Commandite par Actions (SCA) Commanditaire Vennootschap op Aandelen (Comm.VA) Yes
Société Coopérative à Responsabilité Limitée (SCRL) Coöperatieve Vennootschap met Beperkte Aansprakelijkheid (CVBA) Yes
Société Coopérative à Responsabilité Illimitée (SCRI) Coöperatieve Vennootschap met Onbeperkte Aansprakelijkheid (CVOA) Yes
Société Privée à Responsabilité Limitée Unipersonnelle (SPRLU) Besloten Eenpersoonsvennootschap met Beperkte Aansprakelijkheid (E-BVBA) Yes
Entreprise Individuelle Eenpersoonszaak Yes
Groupement d'Intérêt Economique (GIE) Economisch Samenwerkingsverband (ESV) Yes
Association De Fait (ADF) Feitelijke Vereniging (FV) No
Société Agricole (SAGR) Landbouwvennootschap (LV) Yes
Société de droit commun Maatschap No
Personne physique Natuurlijke persoon No
Société Anonyme (SA) Naamloze Vennootschap (NV) Yes
Fondation Stichting Yes
Société Coopérative Européenne (SEC) Europese Coöperatieve Vennootschap (SCE) Yes
Société Européenne (SE) Europese Vennootschap (Societas Europaea / SE) Yes
Société Interne (SI) Stille Handelsvennootschap (SV) No
Association Momentanée (ASS MOM) Tijdelijke Vereniging (TV) No
Société en Nom Collectif (SNC) Vennootschap Onder Firma (VOF) Yes
Association Sans But Lucratif (ASBL) Vereniging Zonder Winstoogmerk (VZW) Yes
What are the consequences if a customer does not have an LEI code?

ABN AMRO must report transactions in financial instruments to the relevant authorities from 3 January 2018. If a legal entity does not have an LEI code, the bank can no longer execute any transactions in financial instruments from 3 January 2018.

LEI application and extension

ABN AMRO cannot apply for the LEI code on behalf of its customers. Customers must apply for the code and annually extend the code themselves. An LEI code can be requested from the following Local Operating Units (LOU):

The following fields must be completed for the application:

  • Legal name
  • Registered address
  • Head office address
  • Registration authority / number
  • Entity type and legal form
  • Other identification data

The legal entity will also be asked to provide information on any parent company. No further documentation is required.

Please note that it may take some time to process the LEI code application.

How much does an LEI application cost?

An LEI code application is subject to charges. These charges depend on the local operating unit (LOU). There are 2 types of charges: a single registration fee and an annual contribution charged from the year following the application. The charges are different for all local operating units (LOUs). They are (excluding VAT):  

LOU Single registration fee Annual contribution
Bloomberg € 75 € 50
CICI Utility € 119 € 99
GSI Belgium & Luxembourg € 89 € 59
INSEE € 150 € 50
WM Datenservices € 100 € 80

These amounts are used to cover the LEI index maintenance, keep the data up-to-date and make the index accessible to the stakeholders. Part of the annual contribution is also paid to the international LEI code regulator.

What is the LEI code index?

All globally known LEI codes can be found in the LEI code index. The index is a public source and can be consulted here .

Does the customer have to extend the LEI code each year?

Yes. If the LEI code is not extended every year, it will no longer be valid. A legal entity needs a valid LEI code to meet the laws and regulations. The customer will automatically receive an invoice. The LEI code is automatically extended upon payment.

The reference data linked to the legal entities are correct at the time of application, but these data can change over time. Data updates are one reason for the annual extension.

If the customer has an LEI code, but fails to extend it, what will happen?

If the LEI code is not extended, it will receive the 'LAPSED' status in the public LEI code index. The number will not expire, but will no longer be active. This indicates that the LEI code may not be compliant, which means that the legal requirements are not being met.

Who must have an LEI code?

MiFID II states that all legal entities that engage in transactions on the financial markets must have an LEI code, not just customers who are subject to the European market infrastructure regulation (EMIR). EMIR made the code mandatory for derivatives and MiFID II has expanded this to a wide range of financial instruments. There are no exceptions to this rule: if a customer does not have an LEI code, no transactions can be executed ('No LEI, No Trade').

Only legal entities must apply for an LEI code. The following summary lists the entities that must have an LEI code:

Entity type (French name) Entity type (Dutch name)  LEI-code required?      
 
Société Privée à Responsabilité Limitée (SPRL) Besloten Vennootschap met Beperkte Aansprakelijkheid (BVBA) Yes                            
Société en Commandite Simple (SCS) Gewone Commanditaire Vennootschap (Comm. V.) Yes
Société en Commandite par Actions (SCA) Commanditaire Vennootschap op Aandelen (Comm.VA) Yes
Société Coopérative à Responsabilité Limitée (SCRL) Coöperatieve Vennootschap met Beperkte Aansprakelijkheid (CVBA) Yes
Société Coopérative à Responsabilité Illimitée (SCRI) Coöperatieve Vennootschap met Onbeperkte Aansprakelijkheid (CVOA) Yes
Société Privée à Responsabilité Limitée Unipersonnelle (SPRLU) Besloten Eenpersoonsvennootschap met Beperkte Aansprakelijkheid (E-BVBA) Yes
Entreprise Individuelle Eenpersoonszaak Yes
Groupement d'Intérêt Economique (GIE) Economisch Samenwerkingsverband (ESV) Yes
Association De Fait (ADF) Feitelijke Vereniging (FV) No
Société Agricole (SAGR) Landbouwvennootschap (LV) Yes
Société de droit commun Maatschap No
Personne physique Natuurlijke persoon No
Société Anonyme (SA) Naamloze Vennootschap (NV) Yes
Fondation Stichting Yes
Société Coopérative Européenne (SEC) Europese Coöperatieve Vennootschap (SCE) Yes
Société Européenne (SE) Europese Vennootschap (Societas Europaea / SE) Yes
Société Interne (SI) Stille Handelsvennootschap (SV) No
Association Momentanée (ASS MOM) Tijdelijke Vereniging (TV) No
Société en Nom Collectif (SNC) Vennootschap Onder Firma (VOF) Yes
Association Sans But Lucratif (ASBL) Vereniging Zonder Winstoogmerk (VZW) Yes

What are the consequences if a customer does not have an LEI code?

ABN AMRO must report transactions in financial instruments to the relevant authorities from 3 January 2018. If a legal entity does not have an LEI code, the bank can no longer execute any transactions in financial instruments from 3 January 2018.

LEI application and extension

ABN AMRO cannot apply for the LEI code on behalf of its customers. Customers must apply for the code and annually extend the code themselves. An LEI code can be requested from the following Local Operating Units (LOU):

The following fields must be completed for the application:

  • Legal name
  • Registered address
  • Head office address
  • Registration authority / number
  • Entity type and legal form
  • Other identification data

The legal entity will also be asked to provide information on any parent company. No further documentation is required.

Please note that it may take some time to process the LEI code application.

How much does an LEI application cost?

An LEI code application is subject to charges. These charges depend on the local operating unit (LOU). There are 2 types of charges: a single registration fee and an annual contribution charged from the year following the application. The charges are different for all local operating units (LOUs). They are (excluding VAT):  

LOU Single registration fee Annual contribution
Bloomberg € 75 € 50
CICI Utility € 119 € 99
GSI Belgium & Luxembourg € 89 € 59
INSEE € 150 € 50
WM Datenservices € 100 € 80

These amounts are used to cover the LEI index maintenance, keep the data up-to-date and make the index accessible to the stakeholders. Part of the annual contribution is also paid to the international LEI code regulator.

What is the LEI code index?

All globally known LEI codes can be found in the LEI code index. The index is a public source and can be consulted here .

Does the customer have to extend the LEI code each year?

Yes. If the LEI code is not extended every year, it will no longer be valid. A legal entity needs a valid LEI code to meet the laws and regulations. The customer will automatically receive an invoice. The LEI code is automatically extended upon payment.

The reference data linked to the legal entities are correct at the time of application, but these data can change over time. Data updates are one reason for the annual extension.

If the customer has an LEI code, but fails to extend it, what will happen?

If the LEI code is not extended, it will receive the 'LAPSED' status in the public LEI code index. The number will not expire, but will no longer be active. This indicates that the LEI code may not be compliant, which means that the legal requirements are not being met.