The Legal Entity Identifier (LEI) is a global reference number that uniquely identifies every legal entity or structure that is party to a financial transaction, in any jurisdiction.
The LEI is a 20-character, alpha-numeric code based on the ISO 17442 standard developed by the International Organization for Standardization (ISO).
The LEI connects to key reference information that enables clear and unique identification of legal entities participating in financial transactions. Each LEI contains information about an entity’s ownership structure and thus answers the questions of ‘who is who’ and ‘who owns whom’.
The LEI data pool can be regarded as a global directory that greatly enhances transparency in the global marketplace.
LEI provides global recognition for your business or organization:
Regulators such as RBI, SEBI and IRDA may require you to obtain a LEI:
Any legal entity that is a party to financial transactions can obtain a LEI. This entity could be an incorporated entity, partnership firm, proprietorship firm, bank, mutual fund, asset management company, trust, holding company, special purpose vehicle (SPVs) etc.
About Global Legal Entity Identifier Foundation
Established by the Financial Stability Board in June 2014, the Global Legal Entity Identifier Foundation (GLEIF) is tasked to support the implementation and use of the Legal Entity Identifier (LEI). The foundation is backed and overseen by the Regulatory Oversight Committee, representing public authorities from around the globe that have come together to jointly driver forward transparency within the global financial markets. GLEIF is a supra-national not-for-profit-organization headquartered in Basel, Switzerland.
GLEIF makes available the Global LEI Index; i.e. the only global online source that provides open, standardized and high quality legal entity reference data. By doing so, GLEIF enables people and businesses to make smarter, less costly and more reliable decisions about who to do business with.
About Legal Entity Identifier India Ltd
Legal Entity Identifier India Ltd, a wholly owned subsidiary of The Clearing Corporation of India Ltd, acts as a Local Operating Unit (LOU) for issuing globally compatible Legal Entity Identifiers (LEIs) in India.
LEIL has been recognized by the Reserve Bank of India (RBI) as an ‘Issuer’ of Legal Entity Identifiers under the Payment and Settlement Systems Act 2007 (as amended in 2015). LEIL has been accredited by GLEIF as a Local Operating Unit (LOU) for issuance and management of LEIs.
About Rubix Data Sciences Pvt. Ltd.
Rubix Data Sciences has been appointed as a Validation Agent for the Legal Entity Identifier by GLEIF and Legal Entity Identifier India Ltd (LEIL).
As per the terms of its appointment, Rubix is responsible, inter alia, for:
Fees for obtaining the Legal Entity Identifier : INR 4,250 + 18% GST per entity