1.10.2017. ABLV Bank offer LEI registration

Company News

According to new legislative requirements of the European Union, legal entities will need LEI (Legal Entity Identifier) for transactions in financial instruments, regardless the residence of those legal entities.
From 1 November 2017, this requirement will be applicable to transactions in derivative financial instruments and FORWARD transactions, whereas from 3 January 2018 — to transactions in any financial instruments, including stocks, bonds, etc.
LEI can be obtained through the offices of special certified registration authorities. This is a unique alphanumerical code consisting of 20 symbols, used as identifier of each legal entity that appears to be a financial market player as one of the transaction parties.
For the convenience of ABLV Bank clients, bank offer LEI registration to all theirs clients–companies on their behalf, without additional power of attorney needed. LEI registration procedure can take up to two weeks.
From 1 November 2017, ABLV Bank will introduce the fee for brokerage cash account maintenance applicable to legal entities, which will be equal to EUR 10 per month. The fee covers LEI registration and further annual maintenance.on.