In a globalized business world, it is incredibly important that an active LEI (Legal Entity Identifier) number is maintained and always renewed. For this reason, we have implemented not only a quick, but also a very simple way for you to renew your LEI number managed with us.
Go to our website and log in to your account with your credentials.
Click on My Purchases in the top menu and select the menu item LEI Codes.
If you manage several LEI numbers with us, then first search for the number to be renewed. Then you can trigger a renewal of the LEI number via the Renew button.
Your LEI number provides you with a unique identification code that identifies your company and contributes to transparency and standardization. In order for the LEI to remain valid, it must be renewed year after year. If it is not renewed, it is given the status "lapsed" and is also displayed accordingly in the GLEIS (=Global Legal Entity Identifier System) database. Should an LEI lapse, then this can result in a trading halt being ordered and/or your company being subject to heavy fines for non-compliance. In our FAQ article "3 reasons why you should never let your LEI expire." you can find out more about the reasons why it is important to renew your LEI on time.
Renewing your LEI number annually can be not only time-consuming but also risky. For example, if the person previously responsible for renewal leaves the company and no successor has been appointed. This can result in the LEI registration expiring and a trading halt being issued and/or a penalty for non-compliance. To prevent this, we offer the option to register an LEI number for 1, 3 or 5 years.
By registering for multiple years, you can be assured that your LEI number will be automatically verified for accuracy at the time of each renewal and will never expire during that time period. This saves you time and minimizes the risk of a trading halt or fine.
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