internationally recognized standard for identification of legal entities

Leitrainer3429 Aug, 2024Legal

The LEI code is an internationally recognized standard for identification of legal entities. Once LEI application is approved, the Legal entity is issued an LEI code that is a 20-digit code based on ISO 17442-1:2020. As an ISO standard, it enables unique, global identification of entities, and it is persistent, meaning the entity remains tagged by the LEI code even when it ceases operations. Each LEI code contains information about an entity?s ownership structure and thus answers the questions of 'who is who? and ?who owns whom?. Simply put, the publicly available LEI data pool can be regarded as a global directory, which greatly enhances transparency in the global marketplace.