LEI - Legal Entity Identifiers
Do you really know your business partner?
The 2008 financial crisis bare laid the need to identify and analyse the exposure at legal entities level. Therefore, the Financial Stabilty Board created the Global Legal Entities Identifier System, that assigns LEI to legal entities, providing information about “who is who” and “who owns who”.
In December 2019 InfoCert completed the GLEIF accreditation becoming a Local Operating Unit (LOU) authorized to issue LEIs.
Trust your business partner, verify the identity with LEI
To extend commercial credit, the lender must verify the legal entity structure and stability. The use of LEI would help to standardize this information and thus would significantly reduce the time that banks’ middle and back offices spend on manual verification processes.
Reduce costs and increase trasparency with LEI
- Speed up verificationThe use of the LEI reduce transactional frictions and enables faster identy verification to organization that use different data base.
- Reduce costs
The simpler and faster is the verification process, the lower are the costs to identify business counterparts.
- Increase transparency
All LEI information are open and for free access in GLEIF data base.
- Guarantee traceability
LEI contains entity ownership structure, useful to match multiple legal documents to a single client when processing a specific transaction.
Intermediary Banks instructions & responsibilities
GLEIF Master Agreement means the agreement executed between any LOU and GLEIF which sets forth the main rights and obligations of any LOU to issue LEI within the GLEIS
The burden of proof that an entity is to be considered as Government Entity stays either with the particular entity or with its competent supervisory agency
LE-RD means the data linked to the Applicant as defined by the currently valid Common Data File Formats, describing business card and relationship information related to corresponding ROC policies
The Legal Entity Identifier (LEI) is a 20-character, alpha-numeric code based on the ISO 17442 standard developed by the International Organization for Standardization (ISO). The Global Legal Entity Identifier Foundation (GLEIF) evaluates the fitness of organizations seeking to operate as LEIs issuers. In December 2019 InfoCert completed the GLEIF accreditation becoming a Local Operating Unit (LOU) authorized to issue LEIs. LOUs supply registration, renewal and other services acting as the primary interface for legal entities regarding LEIs.
InfoCert participates in numerous projects dedicated to environmental sustainability and inclusion.