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ARTICLE · 18 APRIL 2018

Legal Entity Identifiers Under MiFID II

Orrick Herrington & Sutcliffe
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From 3 January 2018 all legal entities (no matter where they are based or incorporated) involved in buying, selling or issuing financial instruments on EU regulated markets ...

United KingdomFinance and Banking
Katie Cotton
Katie Cotton

From 3 January 2018 all legal entities (no matter where they are based or incorporated) involved in buying, selling or issuing financial instruments on EU regulated markets, multilateral trading facilities or organised trading facilities will need to have and maintain a Legal Entity Identifier (or LEI) which will form part of a global database.

Issuers of financial instruments admitted to trading on an EU regulated market were required to have an LEI by 1 October 2017. This requirement applies to companies incorporated in non-EU countries (such as US companies or off-shore financing vehicles) that have bonds listed on EU regulated markets (such as on the Irish or Luxembourg Stock Exchanges).

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