Document requirements for obtaining LEI
Depending on the nation, the legal system, or the industry, different LEI requirements apply. The right to require the use of LEIs rests with the authorities exercising their authority within each jurisdiction.
Individual market players are responsible for obtaining their own LEIs, keeping them current, and renewing them annually.
Once the entity information has been given, it must be verified to make sure it is accurate in every way. The LEI data can be verified using a variety of documents that can be considered as official register data. Accordingly, the document should essentially affirm the name of the legally registered organization, its present address, and the names of its principal stakeholders (e.g. Director, CEO).
What documents are required?
Several of the documents are:
- Certificate of Incorporation
- Memorandum of Association / Articles of Association
- Declaration of Incorporation
- Official filing or a registry extract
- A court order or power of attorney
- Any other recognized or enforceable legal document that verifies the necessary LEI information, such as audited financial statements, an annual report, the Register of Directors, etc.
Stage II Data
If you are disclosing parental information, you must provide consolidated accounts to prove that the relationship is real. Only a company’s annual report or consolidated financial statements will be considered as proof of the connection.
Letter of Authorisation (LoA)
A Letter of Authorization signed by the corporate authorized signatory, who is typically the Director, may be necessary if you are submitting an LEI application on behalf of another legal entity, client, or employer.
You will also be required to submit a LoA in order to transfer and renew an LEI that is currently under the management of another LEI service provider.
Process of Registration
The LEI registration procedure will use a self-registration model. Entities that are qualified for an LEI provide the necessary information about themselves and certify that information regularly (at least once a year) or whenever the essential information changes.
Registering of Legal Entity Identifier is an easy process of filling out the form through the official LEI registration agent. At LEI-Registrar.com we’ve helped and guided hundreds of companies through the registration process of LEI. Our experience allowed us to build a robust system that makes the registration easy, quick and painless.
