{"id":5179,"date":"2023-11-08T19:40:45","date_gmt":"2023-11-08T19:40:45","guid":{"rendered":"https:\/\/www.followmystep.com\/?p=5179"},"modified":"2023-11-08T19:40:46","modified_gmt":"2023-11-08T19:40:46","slug":"leis-who-needs-them-and-why","status":"publish","type":"post","link":"https:\/\/www.followmystep.com\/en-us\/education\/leis-who-needs-them-and-why\/","title":{"rendered":"LEIs: Who Needs Them and Why?"},"content":{"rendered":"
\"LEIs:

LEIs: Who Needs Them and Why?<\/p><\/div>\n

In global finance, a unique identifier has emerged as a keystone for transparency and accountability: the Legal Entity Identifier (LEI). This 20-character alphanumeric code, compliant with the ISO 17442 standard, serves a pivotal role in distinguishing legal entities involved in financial transactions worldwide.\u00a0Secure your business identity with an LEI number<\/a>, a tool that solidifies your presence in the financial world.<\/p>\n

Understanding the LEI System<\/h2>\n

An LEI provides more than just an identification number. It offers vital reference data that allows clear and unique identification of legal entities participating in financial transactions. This includes data such as the entity’s name, address, and information about its ownership structure.<\/p>\n

Who Requires an LEI?<\/h2>\n

Financial Institutions and Market Participants<\/h3>\n

Primarily, LEIs are indispensable for entities that engage in financial transactions, especially those that are party to derivative contracts or trade in financial markets. Regulatory bodies in various jurisdictions mandate the use of LEIs for transaction reporting under specific conditions.<\/p>\n

Corporations and Legal Entities<\/h3>\n

Beyond financial institutions, corporations and other legal entities engaging in transactions where identification and risk assessment are vital also benefit from having an LEI. It’s a tool that enhances their credibility and simplifies engagement in global markets.<\/p>\n

Why Are LEIs Necessary?<\/h2>\n

Enhancing Transparency and Risk Management<\/h3>\n

LEIs play a crucial role in augmenting transparency in financial markets. By providing a clear view of the market participants, LEIs facilitate better risk assessment and management. This transparency is not just beneficial for the entities themselves but also for regulators and other market participants.<\/p>\n

Facilitating Regulatory Compliance and Reporting<\/h3>\n

In an era where regulatory requirements are increasingly stringent, LEIs simplify compliance. Entities with an LEI find it easier to adhere to reporting obligations, as LEIs streamline the process of disclosing\u00a0financial transactions<\/a>\u00a0to regulatory bodies.<\/p>\n

Promoting Market Integrity<\/h3>\n

The use of LEIs fosters integrity within financial markets. With entities being distinctly identifiable, it becomes challenging to engage in deceptive practices. This, in turn, instills confidence among investors and other market participants. Moreover, as entities engage more broadly in the international sphere, they understand the criticality of standing out and ensuring credibility. Secure your business identity with an LEI number, and ensure your entity is always recognized accurately in financial engagements.<\/p>\n

Global Trade and Cross-Border Transactions<\/h3>\n

For entities involved in global trade or cross-border financial transactions, an LEI is invaluable. It bridges the identification gap across different countries and jurisdictions, ensuring seamless transactions and interactions in the international financial landscape.<\/p>\n

The LEI Registration Process<\/h3>\n

Securing an LEI involves a straightforward registration process. Entities need to provide accurate and up-to-date information to an LEI issuing organization, which is then verified and made publicly available. It’s worth noting that LEIs are not permanent and require periodic renewal.<\/p>\n

Conclusion<\/h2>\n

The LEI system continues to evolve, with its adoption steadily growing across various sectors. As the global financial landscape becomes increasingly interconnected, the significance of LEIs in fostering transparency, ensuring compliance, and enhancing the overall integrity of financial markets is becoming ever more apparent. Entities across the spectrum, from financial institutions to corporations engaging in global transactions, recognize the necessity and benefits of having an LEI.<\/p>\n","protected":false},"excerpt":{"rendered":"

In global finance, a unique identifier has emerged as a keystone for transparency and accountability: the Legal Entity Identifier (LEI). This 20-character alphanumeric code, compliant with the ISO 17442 standard, serves a pivotal role in distinguishing legal entities involved in financial transactions worldwide.\u00a0Secure your business identity with an LEI number, a tool that solidifies your […]<\/p>\n","protected":false},"author":1,"featured_media":5181,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[101,6,142],"tags":[],"yoast_head":"\nLEIs: Who Needs Them and Why? - FollowMyStep<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.followmystep.com\/en-us\/education\/leis-who-needs-them-and-why\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"LEIs: Who Needs Them and Why? - FollowMyStep\" \/>\n<meta property=\"og:description\" content=\"In global finance, a unique identifier has emerged as a keystone for transparency and accountability: the Legal Entity Identifier (LEI). This 20-character alphanumeric code, compliant with the ISO 17442 standard, serves a pivotal role in distinguishing legal entities involved in financial transactions worldwide.\u00a0Secure your business identity with an LEI number, a tool that solidifies your […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.followmystep.com\/en-us\/education\/leis-who-needs-them-and-why\/\" \/>\n<meta property=\"og:site_name\" content=\"FollowMyStep\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-08T19:40:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-08T19:40:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.followmystep.com\/wp-content\/uploads\/2023\/11\/Legal-Entity-Identifier.png\" \/>\n\t<meta property=\"og:image:width\" content=\"2240\" \/>\n\t<meta property=\"og:image:height\" content=\"1260\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.followmystep.com\/en-us\/education\/leis-who-needs-them-and-why\/\",\"url\":\"https:\/\/www.followmystep.com\/en-us\/education\/leis-who-needs-them-and-why\/\",\"name\":\"LEIs: Who Needs Them and Why? - FollowMyStep\",\"isPartOf\":{\"@id\":\"https:\/\/www.followmystep.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.followmystep.com\/en-us\/education\/leis-who-needs-them-and-why\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.followmystep.com\/en-us\/education\/leis-who-needs-them-and-why\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.followmystep.com\/wp-content\/uploads\/2023\/11\/Legal-Entity-Identifier.png\",\"datePublished\":\"2023-11-08T19:40:45+00:00\",\"dateModified\":\"2023-11-08T19:40:46+00:00\",\"author\":{\"@id\":\"https:\/\/www.followmystep.com\/#\/schema\/person\/5af6252a3a1ac7cc2a15d18132d92c48\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.followmystep.com\/en-us\/education\/leis-who-needs-them-and-why\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.followmystep.com\/en-us\/education\/leis-who-needs-them-and-why\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.followmystep.com\/en-us\/education\/leis-who-needs-them-and-why\/#primaryimage\",\"url\":\"https:\/\/www.followmystep.com\/wp-content\/uploads\/2023\/11\/Legal-Entity-Identifier.png\",\"contentUrl\":\"https:\/\/www.followmystep.com\/wp-content\/uploads\/2023\/11\/Legal-Entity-Identifier.png\",\"width\":2240,\"height\":1260},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.followmystep.com\/en-us\/education\/leis-who-needs-them-and-why\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.followmystep.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"LEIs: Who Needs Them and Why?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.followmystep.com\/#website\",\"url\":\"https:\/\/www.followmystep.com\/\",\"name\":\"FollowMyStep\",\"description\":\"blog\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.followmystep.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.followmystep.com\/#\/schema\/person\/5af6252a3a1ac7cc2a15d18132d92c48\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.followmystep.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/9482ae081884d0295ec232815307aca9?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/9482ae081884d0295ec232815307aca9?s=96&d=mm&r=g\",\"caption\":\"admin\"},\"sameAs\":[\"https:\/\/www.followmystep.com\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"LEIs: Who Needs Them and Why? - FollowMyStep","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.followmystep.com\/en-us\/education\/leis-who-needs-them-and-why\/","og_locale":"en_US","og_type":"article","og_title":"LEIs: Who Needs Them and Why? - FollowMyStep","og_description":"In global finance, a unique identifier has emerged as a keystone for transparency and accountability: the Legal Entity Identifier (LEI). This 20-character alphanumeric code, compliant with the ISO 17442 standard, serves a pivotal role in distinguishing legal entities involved in financial transactions worldwide.\u00a0Secure your business identity with an LEI number, a tool that solidifies your […]","og_url":"https:\/\/www.followmystep.com\/en-us\/education\/leis-who-needs-them-and-why\/","og_site_name":"FollowMyStep","article_published_time":"2023-11-08T19:40:45+00:00","article_modified_time":"2023-11-08T19:40:46+00:00","og_image":[{"width":2240,"height":1260,"url":"https:\/\/www.followmystep.com\/wp-content\/uploads\/2023\/11\/Legal-Entity-Identifier.png","type":"image\/png"}],"author":"admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"admin","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.followmystep.com\/en-us\/education\/leis-who-needs-them-and-why\/","url":"https:\/\/www.followmystep.com\/en-us\/education\/leis-who-needs-them-and-why\/","name":"LEIs: Who Needs Them and Why? - FollowMyStep","isPartOf":{"@id":"https:\/\/www.followmystep.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.followmystep.com\/en-us\/education\/leis-who-needs-them-and-why\/#primaryimage"},"image":{"@id":"https:\/\/www.followmystep.com\/en-us\/education\/leis-who-needs-them-and-why\/#primaryimage"},"thumbnailUrl":"https:\/\/www.followmystep.com\/wp-content\/uploads\/2023\/11\/Legal-Entity-Identifier.png","datePublished":"2023-11-08T19:40:45+00:00","dateModified":"2023-11-08T19:40:46+00:00","author":{"@id":"https:\/\/www.followmystep.com\/#\/schema\/person\/5af6252a3a1ac7cc2a15d18132d92c48"},"breadcrumb":{"@id":"https:\/\/www.followmystep.com\/en-us\/education\/leis-who-needs-them-and-why\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.followmystep.com\/en-us\/education\/leis-who-needs-them-and-why\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.followmystep.com\/en-us\/education\/leis-who-needs-them-and-why\/#primaryimage","url":"https:\/\/www.followmystep.com\/wp-content\/uploads\/2023\/11\/Legal-Entity-Identifier.png","contentUrl":"https:\/\/www.followmystep.com\/wp-content\/uploads\/2023\/11\/Legal-Entity-Identifier.png","width":2240,"height":1260},{"@type":"BreadcrumbList","@id":"https:\/\/www.followmystep.com\/en-us\/education\/leis-who-needs-them-and-why\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.followmystep.com\/"},{"@type":"ListItem","position":2,"name":"LEIs: Who Needs Them and Why?"}]},{"@type":"WebSite","@id":"https:\/\/www.followmystep.com\/#website","url":"https:\/\/www.followmystep.com\/","name":"FollowMyStep","description":"blog","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.followmystep.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.followmystep.com\/#\/schema\/person\/5af6252a3a1ac7cc2a15d18132d92c48","name":"admin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.followmystep.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/9482ae081884d0295ec232815307aca9?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/9482ae081884d0295ec232815307aca9?s=96&d=mm&r=g","caption":"admin"},"sameAs":["https:\/\/www.followmystep.com"]}]}},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/www.followmystep.com\/wp-content\/uploads\/2023\/11\/Legal-Entity-Identifier.png","_links":{"self":[{"href":"https:\/\/www.followmystep.com\/wp-json\/wp\/v2\/posts\/5179"}],"collection":[{"href":"https:\/\/www.followmystep.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.followmystep.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.followmystep.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.followmystep.com\/wp-json\/wp\/v2\/comments?post=5179"}],"version-history":[{"count":2,"href":"https:\/\/www.followmystep.com\/wp-json\/wp\/v2\/posts\/5179\/revisions"}],"predecessor-version":[{"id":5182,"href":"https:\/\/www.followmystep.com\/wp-json\/wp\/v2\/posts\/5179\/revisions\/5182"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.followmystep.com\/wp-json\/wp\/v2\/media\/5181"}],"wp:attachment":[{"href":"https:\/\/www.followmystep.com\/wp-json\/wp\/v2\/media?parent=5179"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.followmystep.com\/wp-json\/wp\/v2\/categories?post=5179"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.followmystep.com\/wp-json\/wp\/v2\/tags?post=5179"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}