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ARTICLE · 25 FEBRUARY 2018

Legal Entity Identifiers: The Cyprus Perspective

Harneys
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With the implementation from 3 January 2018 of EU Directive 2014/65/EU on markets in financial instruments (MiFID II) and accompanying Regulation (EU) No 600/2014 (MiFIR), additional requirements ...

CyprusFinance and Banking
Aki Corsoni-Husain
Aki Corsoni-Husain
Nancy Erotocritou
Nancy Erotocritou
Elina Mantrali
Elina Mantrali
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With the implementation from 3 January 2018 of EU Directive 2014/65/EU on markets in financial instruments (MiFID II) and accompanying Regulation (EU) No 600/2014 (MiFIR), additional requirements have been introduced on certain entities regulated under MiFID II/MiFIR to collect and report LEIs of their clients in certain circumstances.

What is a LEI?

A Legal Entity Identifier (LEI) is a 20-digit, alphanumeric code that allows for the clear and unique identification of legal entities participating in financial transactions. LEIs are used widely within the global and the European regulatory regimes for financial services, as they provide for an effective and reliable database for identifying parties to financial transactions.

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