LEI (Legal Entity Identifier)
The LEI is the ISO 17442 standard 20-character identifier for legal entities in financial transactions — a globally unique code linking an entity to reference data about who it is and, via parent relationships, who owns it.
What it is for
Created after the 2008 financial crisis, the LEI answers who is who and who owns whom in financial markets. Each record carries Level 1 data (legal name, registered address, entity status) and Level 2 data (direct and ultimate parent entities). The GLEIF operates the public registry — every LEI record is freely searchable.
Regulatory regimes require it for transaction reporting: MiFID II/EMIR derivatives reporting, DORA registers of information, and most securities and payments supervision in the EU. Many banks now request an LEI during corporate onboarding even when not strictly mandated.
Structure and renewal
The 20 alphanumeric characters include a 2-character check computed with MOD 97-10 — the same family of checksum used by IBANs, so a validator can catch transcription errors locally. LEIs lapse after one year without renewal; a lapsed LEI can block regulatory filings.
Related Standards
- •ISO 17442 — Legal Entity Identifier
- •Regulation (EU) 2022/2554 (DORA) — register of information
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