Frequently asked questions and answers about LEI codes

LEI is commonly referred to as an LEI code but is actually an abbreviation of "Legal Entity Identifier".

LEI is a globally standardized identification number for legal entities that is used to identify and track them in various financial and reporting contexts.

Each LEI code is unique and belongs to only one legal entity. The 20-character code that makes up an LEI can be likened to an organization number but on a global scale. The LEI is established to take unstructured registry data from the various business registries around the world and translate it into a common global standard. This means that an LEI code for a company in Sweden has the same format as an LEI code for a company in India.

The purpose of the LEI is to create transparency in the global financial market. By using an LEI, organizations can be more easily identified globally. It also provides a clearer insight into the counterparties involved in financial transactions, reducing the risk of fraud and misidentification.

The global LEI system (GLEIS) was created in direct response to the 2008 financial crisis to help prevent a similar crisis in the future. The system was implemented following recommendations from the G20 and the Financial Stability Board (FSB) and is now active in over 40 countries worldwide.

There are almost 2.5 million LEIs issued worldwide.

A Legal Entity Identifier (LEI) is necessary for almost all legal entities involved in financial transactions. This is especially true for those who are active on the stock exchange or trade in securities. The LEI is needed to identify these entities in the global financial market and for other regulatory reasons.

Companies trading in derivatives, securities and other financial instruments also need their own LEI. Insurance companies, banks, investment funds, pension funds, public authorities and foundations also usually need an LEI.

In short, if you have a business and are interested in trading shares, you will need to register an LEI.

Individuals do not need an LEI for their personal financial activities. In addition, companies that are not involved in financial transactions or that only operate within a local market may also be exempt from LEI requirements.

If you are unsure whether your legal entity needs an LEI or not, NordLEI recommends that you contact your bank or financial institution.

An LEI is valid for one year after the first registration. If you have chosen to register for several years, your LEI is automatically renewed every year. If you do not renew your LEI, it will become inactive or expired and may cause complications in financial transactions.

To obtain an LEI, simply apply through us. We are the only accredited Swedish issuer. The information we need is:

• Company name or organization number
• Name and email of the account holder
• Company signatory

Your LEI will be sent to your email once the purchase is completed and we have validated your data.

You can quickly and easily register an LEI code with NordLEI. Click here or on "register" above.

1. You fill in your application and we automatically retrieve company information from Bolagsverket and others. We are an accredited LEI issuer, not just a registration agent. This means that we issue the LEI ourselves under the supervision of GLEIF.
2. You choose your preferred registration period. We offer 1, 3 or 5 year LEI registration with automatic annual updates. Your LEI code will always be current during this period.
3. You can pay either by card (Visa, MasterCard) or by bank transfer.
4. After we validate your data, we deliver your LEI code. This usually takes place about one hour after receipt of payment.

The LEI must be renewed annually to remain valid. If you register your LEI for several years with us, we will take care of the process automatically and offer you a lower price. There is no risk of your LEI expiring during the registration period.

If you want to transfer your LEI to us, click on "transfer" in the main menu.

Fill in your existing LEI or company name, fill in the signatory and press send.

The transfer of the LEI to us is free of charge.

You can always contact us at support@nordlei.org if you need help with your application or transfer.

You will receive your LEI as soon as we validate your data. The majority of LEIs are issued 1 hour after receipt of payment.

We are continuously working to become faster with the aim of being the number one LEI issuer.

Since July 1, 2023, LEI is mandatory for companies with endowment insurance. If you do not have an LEI, you will only be able to sell off your existing positions.

We issue LEIs to all types of companies and are also accredited to issue LEIs to funds.

NordLEI is based in Sweden and has registered almost 170,000 LEIs since 2014. This makes us the leading LEI provider in Scandinavia.

• With secure processes and data servers in Sweden, NordLEI offers secure data storage and safe issuance of LEIs in accordance with the GDPR.
• We are the first GLEIF (Global Legal Entity Identifier Foundation) accredited LOU (Local Operating Unit) in Scandinavia as of September 22, 2021.
• Our operations span twenty-eight jurisdictions, including Sweden, Norway, Denmark, Finland, Iceland, the UK, Ireland, the Netherlands, Austria, Belgium, Canada, the Cayman Islands, Cyprus, Estonia, the Faroe Islands, France, Germany, Guernsey, the Isle of Man, Italy, Jersey, Malta, Portugal, Spain, Switzerland, The British Virgin Islands and The United States. NordLEI also acts as a partner to the London Stock Exchange LEI Limited (London Stock Exchange), to provide LEI services for jurisdictions in the rest of the world.
• NordLEI is accredited to issue LEIs for funds in accordance with the ROC Policy on Fund Relationships. See further information here.
• Certified in information security according to ISO 27001.

The Global Legal Entity Identifier Foundation (GLEIF) is a non-profit organization established by the Financial Stability Board (FSB) to support the implementation and use of the Legal Entity Identifier (LEI). GLEIF manages a network of partners of LEI issuing organizations called "Local Operating Units". These partners validate the information in applications against local registers and ensure that all LEIs issued are accurate and consistent with officially registered information.

NordLEI is the only Swedish issuer of LEIs.

Enligt både EMIR (European Market Infrastructure Regulation) och MiFID II / MiFIR (Markets in Financial Instruments Directive II / Regulation) är det obligatoriskt för alla juridiska personer som är involverade i finansiella transaktioner att ha en LEI-kod. Detta inkluderar företag, banker och investeringsfonder. LEI-koden används för att identifiera parterna i finansiella transaktioner, vilket förbättrar transparensen och hjälper tillsynsmyndigheter att övervaka och hantera risker.

It is possible to register an LEI for several years at a time. This can be beneficial for organizations that want to ensure continuous compliance without having to renew their LEI every year. When you register for several years, you never run the risk of your LEI becoming inactive during this period.

Yes, you can register an LEI on behalf of your client. However, you must ensure that you have all the necessary information and the approval of authorized signatories to do so.

If you want to try our simplified LEI registration process, you can use our simplified site nordlei.co.uk where you can easily register your LEI in 2 minutes.

We accept credit cards (Visa, MasterCard) and payment by bank transfer.

If your company details change at the Swedish Companies Registration Office, you should update your LEI code as soon as possible. You can do this easily in our portal in logged-in mode.

ISO 17442 is the international standard for the Legal Entity Identifier (LEI). It specifies the structure and content of your LEI code, including the 20 characters that make up the LEI and the data elements required for the registration of the LEI.

ISO 27001 is an international standard for information security. It specifies the requirements for establishing, implementing, maintaining and continuously improving an information security system within an organization.

An LEI remains valid for one year from the date of issue. To ensure that your LEI remains active, it must be renewed annually. If your LEI is not renewed, it will be classified as expired and may affect your company's ability to carry out financial transactions. If you have chosen automatic renewal, we will renew your LEI annually.

An LOU, or Local Operating Unit, is accredited by the Global Legal Entity Identifier Foundation (GLEIF) to issue LEIs. NordLEI is one of the few LOUs that can issue LEIs for Swedish companies. Our task is to request all relevant information from our customers required to issue an LEI and then verify it.

After carrying out these checks, we issue an LEI in accordance with the applicable rules and guidelines from GLEIF. These guidelines are strict and aim to ensure that all LEIs are accurate, reliable and easily accessible.

In addition to issuing LEIs, we also provide the necessary information about each legal entity. This information includes the entity's name, address and ownership structure.

In simple terms, the publicly available database of LEIs can be considered as an international directory of companies whose purpose is to increase transparency in the global market.

The main pieces of information identified by an LEI code:

1. The official name of the legal entity.
2. The address where the company is legally registered.
3. The country in which the company is established.
4. Specific codes to identify the company with the authority it is registered with.
5. The status of all LEIs, such as whether they are active or inactive.
6. Information on the company's parent and subsidiary companies, if relevant and available.

vLEI, or Verifiable Legal Entity Identifier, is a digital organizational identity developed by GLEIF. It acts as a digital version of a 20-digit LEI code that is automatically verified, eliminating the need for human intervention. vLEI is based on the technology of blockchain and a concept called self-sovereign identity (SSI) which allows for decentralized identity verification.

In practice, vLEI is used to authenticate and verify legal entities across different industries. It reduces the risk of fraud and improves the transparency of these processes. In addition, vLEI can be used to verify the identity of organizations participating in digital contracts or other forms of digital interactions.

Examples of use cases for the vLEI could be a CEO signing the annual report with a vLEI or suppliers signing their invoices with the vLEI's role accreditation to reduce the risk of fraud.

Read more about vLEI

NordLEI has the LEI code 549300O897ZC5H7CY412

Read more about our LEI code at GLEIF on the link: search.gleif.org/#/record/549300O897ZC5H7CY412/