Frequently asked questions
Who is LEI Management for?
LEI Management is mostly used by Banks, Funds, Capital Management Services, etc.
As an LEI Manager, you can apply for, renew and transfer LEIs on behalf of your customers, to ensure, that their LEIs are always up to date.
LEI Managers have a detailed overview of their customers LEIs (eg. payment date, company name, application status, LEI status, LEI code, download and upload required documents, download invoices and easily renew the LEIs when it’s time).
Benefits of LEI Management
Some of those include:
- A clear overview of the LEIs under your management.
- Easy LEI operations (document upload, renewals, LOA download, etc.)
- Possibility to apply for multiple LEIs at once (using our Bulk LEI Form).
- Possibility to pay for multiple LEIs at once using PayPal, Credit Card or Pro-forma Invoice.
- Possibility to apply or renew an LEI for 1/2/3/4/5 years at a time.
- Free LEI Certificates- Otherwise a paid service, that is free for LEI Management users (at least three LEIs required under management).
- Special pricing
Who is Referral Management for?
Referral management is meant for people or businesses who want to earn extra income by inviting users to apply for an LEI with us.
Referral management users can generate a unique referral link or use an iFrame on their website. If a client uses the specific link or iFrame, they will earn commissions for each invitee.
Benefits of LEI Referrals
Some of those include:
- Earn hefty commissions by inviting clients.
- Earn more commissions, by asking a client to renew for more than one year.
- Have an overview of the previous invitees, and see the total collectible amount on their account.
- Receive the collectible commissions every month (at least three successful referrals required for payout).
- Recurring commissions- if the invitee renews the LEI in the following years, you will additionally receive 50% of the original commission.
- Commission scheme
What is LEIAdmin.com
LEIAdmin is an LEI management platform for retail and corporate customers who manage multiple LEI’s. Our aim is to offer simplified LEI creation, renewal and import of LEI’s from other service providers.
LEI Admin is a service by LEI Register
Why is the LEI necessary?
LEI is needed to identify legal entities that are counterparties to securities transactions and it is used for transaction reporting purposes.
The Legal Entity Identifier connects a legal entity to its key reference information (name, location, etc.). The LEI number enables identifying legal entities participating in global financial markets for various supervisory purposes.
The global LEI helps regulators better monitor and analyze threats to financial stability. It also helps companies improve their internal management of operational risks and reduce costs in collecting, cleaning, and aggregating data, and in reporting data to regulators.
How do I register an account with you?
To register an account we ask to provide your name and email. In addition please preselect your currency for payments/invoices. After the account registration a randomly generated password will be sent to your email. We strongly suggest to change it after the first login.
What kind of payment methods you offer?
LEIAdmin supports credit card, Paypal, Credit Card and Pro-forma invoice. For bank transfer (invoice) payments please contact [email protected]
What is the average processing time for a new LEI?
We provide a new LEI usually in a couple of hours. It can take less than 30 minutes to couple of hours. In rare occasions up to 24 hours. Extended validation time occur due to Level 2 data validation (who owns who).
Can I import LEIs from other service providers?
Yes, LEIAdmin supports importing LEIs from other service providers. Feel free to import LEIs one by one in the platform or send us a list of LEIs to [email protected] if you wish to do a bulk transfer. The easiest way is to download an xls or csv sheet from your current LEI provider and send it to us to [email protected] Uploads through client area will soon be supported for bulk transfers as well.
Who is a registration agent?
Yes, LEIAdmin supports importing LEIs from other service providers. Feel free to import LEIs one by one in the platform or send us a list of LEI’s
A Registration Agent helps legal entities to access the network of LEI issuing organizations responsible for performing LEI issuance and related services. The Registration Agent’s role in the Global LEI System is directly connected to the LEI issuing organization. The Registration Agent may choose to partner with one or more LEI issuing organizations to ensure its clients’ needs for LEI services are met.
For a detailed overview of registration agents, see here.
Do investment service providers (like banks), have the right to request an LEI number?
Investment service providers must request customers that are legal entities to provide all information which is necessary for submitting information about transactions to supervisory authorities. Such information includes Legal Entity Identifier number.
What happens if a customer does not provide an LEI number?
If a customer, who is a legal entity, does not provide the investment service provider with the necessary information, including an LEI number, for reporting a security transaction, the service provider will not be able to fulfil their legal reporting obligation. Consequently, the investment service provider may refuse to provide the service.
I have been issued an LEI number, but the bank says it is in inactive or invalid.
Banks and investment service providers verify the validity of LEI numbers from the GLEIF database. As GLEIF performs database updates once per day, the LEI number issued to you will be listed in the database on the following day from 14.00 CEST. For example, if your Legal Entity Identifier was issued today, it will be listed in the global database tomorrow from 14.00 (CEST).
Does each country have a distinct prefix for LEI numbers?
Legal Entity Identifier numbers are universal codes and are not tied to any specific country. Each LOU has its own identifier, which is contained in the first four numbers of the LEI code. LEI codes are valid worldwide regardless of the LOU that issued the code.
Why do I have to renew my LEI code?
An LEI code needs annual renewal. If the deadline has passed, your LEI will become inactive until renewed again. This renewal process is necessary to ensure the data in the Global LEI Pool is relevant and up to date.
Is the LEI data publicly available?
Yes, the Legal Entity Identifier system is built on the principle of making the information publicly available. LEI-related company data (name, registry code, address, address of the principal office, country of registration, etc.) are accessible to everyone through the GLEIF website.
Any interested party can easily access and search the complete LEI data pool free of charge on the GLEIF website using the web-based LEI search tool developed by GLEIF.
What happens if I do not have an LEI code or if it expires?
To fulfil their reporting obligation, investment service providers need their customers that are legal entities to have a valid Legal Entity Identifier code. Before carrying out any securities’ transactions, investment service providers verify the existence of a valid LEI code.
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