13.10.2017. Obtaining LEI-codes is going to be mandatory in G20

News

The G20 Countries decided to make it obligatory for legal entities to obtain Legal Entity Identifier codes (LEI-code), a twenty-digit alphanumeric code that is necessary to perform transactions and reporting at financial markets.

It will be required to obtain and use a LEI-code in the EU starting from 01 November 2017. In particular, those legal entities that perform transactions with financial derivatives must have a LEI-code.

From 03 January 2018, LEI-codes will become mandatory for making deals with absolutely all financial instruments and securities. The state of registration of a legal entity will not matter in such case; it is the location (within the EU Member States) of a bank or a broker house serving such legal entity that will matter.