What happens if I do not renew my LEI?

LEIs require annual renewal under most regulations requiring an LEI such as MiFID II and EMiR.

Much like your car insurance, the LEI needs to be renewed to keep it up to date for data quality purposes.

If the LEI is allowed to expire it will become LAPSED. Once an LEI is renewed it will show as ACTIVE again.

A LAPSED LEI may have legal repercussions and the owner of the LEI can face financial penalties.

Investment service providers and Banks will often be requested for their clients LEI numbers. If these LEI numbers are not valid, they may face face penalties, or a no trade ruling.

Many financial institutions, banks, state bodies and semi-state bodies support the LEI initiative and have a mandate that all clients and customers must have an active LEI (Legal Entity identifier). To avoid complications with your banking institution or regulatory body we recommend maintaining an active LEI code.