Legal Entity Identifier (LEI)
Frequently asked questions about LEI
What is an LEI?
LEI stands for Legal Entity Identifier. An LEI makes it possible to identify all investors in the EU. The new EU regulations mean that, as of 2018, all legal entities such as companies, asset managers and mutual funds will need an LEI to be able to trade in securities and derivatives.
Where can I apply for an LEI?
You can apply for an LEI at the Chamber of Commerce (KvK). Only the Chamber of Commerce may issue an LEI. Applying for an LEI takes about ten working days and costs about 65 euros (excluding VAT). For more information go to: Kamer van KoophandelOpens in a new window.
Do you have a company that is not registered in the Trade Register? Or are you not obliged to register in the Trade Register?
In these cases, you can also apply for an LEI from a foreign LEI issuing institution. This may involve costs. More information about applying for an LEI at a foreign institution can be found on the website of the Global Legal Entity Identifier Foundation.Opens in a new window
Who needs to apply for an LEI?
All organizations with a corporate securities account must apply for an LEI. Applying for an LEI is therefore also mandatory for, for example, sole proprietorships, foundations, denominations, Funds for Common Account. Legal entities that, for example, as trustee or administrator, have access to a securities account of a natural person, must also apply for an LEI. You must apply for an LEI yourself, we cannot do that for you.
How long does it take to get an LEI?
After you have submitted your application, it will take approximately ten days for you to receive your LEI.
Do I need to renew my LEI annually?Under MiFID II, you are not obliged to renew your LEI on the basis of current insights. If you decide not to renew your LEI, it will be given the status "expired", but will remain linked to your organization as long as the organization continues to exist. When your LEI has expired you can no longer trade in financial derivatives.In certain cases you are obliged to renew your LEI annually. This is the case if you have a reporting obligation under EMIR. There are costs associated with renewing the LEI. These costs can be found on the website of the Kamer van KoophandelOpens in a new window.
Can Handelsbanken report my outstanding derivative contracts?
All your outstanding derivative contracts must be reported to a Trade Repository. A Trade Repository is supervised by the ESMA (European Securities and Markets Authority) and aims to collect reports of derivative transactions centrally. Handelsbanken annually reports all your outstanding derivative contracts to the Trade Repository.