ARTICLE · 13 OCTOBER 2014

EMIR- Legal Entity Identifiers (LEI)

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Under EMIR, all EEA counterparties subject to reporting need to provide a pre-legal entity identifier pending the finalisation of a global LEI, to meet the reporting obligations.

LuxembourgFinance and Banking

Bonn Steichen & Partners

Under the European Market Infrastructure Regulation ("EMIR") all EEA counterparties subject to reporting need to provide a pre-legal entity identifier ("LEI") pending the finalisation of a global LEI, to meet the reporting obligations. The pre-LEI are issued by Local Operating Units ("LOU") which are endorsed for the purposes thereof.

The LEI has the form of a 20-digit code that connects to key reference information, enabling the clear and unique identification of legal entities.

The LEI regulatory oversight committee ("ROC"), a committee of authorities from around the world, is the entity in charge of endorsing the LOUs for issuance of pre-LEIs.

On August 26^th the ROC announced the endorsement of LuxCSD, an entity sponsored by the Central Bank of Luxembourg as a pre-LOU.

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