LEI Registration in Nungambakkam - Filingpoint


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The Filingpoint  LEI (Legal Entity Identifier) is a unique 20-character code assigned to legal entities participating in regulated financial transactions globally. The LEI allows for accurate and efficient identification of those entities, thus enhancing credibility and transparency in the marketplace for regulators and market participants.

The global LEI system emerged in response to the need for a single, consistent  and easily accessible method for identifying the connections between financial firms. The collapse of Lehman Brothers in 2008 highlighted the gaps in the ability of regulators and private-sector firms to assess the magnitude of risk exposures and how those exposures were linked, and underscored the importance of a robust international system for identifying these connections.

Finance ministers and senior representatives of the world's largest economies, working through the FSB, endorsed the concept of a global LEI system and agreed to assign responsibility for its development and oversight to a body called the Global LEI Foundation. GLEIF is a not-for-profit organization, with its operating budget supported by registration and renewal fees paid by the legal entities issued an LEI.

Local operating units — known as LOUs — supply registration and renewal services and act as the primary interface for legal entities wishing to obtain an LEI. Only organizations duly accredited by GLEIF can issue LEIs, and those who wish to operate as an LOU must comply with a set of standards designed to ensure consistency and reliability across the global system.

LOUs verify the reference data underlying each LEI — what is essentially business card information, including the name and address of the legal entity — before assigning it an LEI. The reference data is also verified upon each annual renewal of the LEI. The LOUs are required to check this data against reliable public sources such as government-approved business registries and private legal documents before publishing it on the Global LEI Index.

Contact Filingpoint LEI Registration Expert +91 72999 72500

 

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