Glossary of LEI terms

These terms are either used with our user guides, the messaging on the RapidLEI system or within the Terms and Conditions of supply of an LEI.

Term Definition
Accounting Practitioner A certified public accountant, chartered accountant, or a person with an equivalent license within the country of the Applicant’s Jurisdiction of Incorporation or Registration or any jurisdiction where the Applicant maintains an office or physical facility; provided that an accounting standards body in the jurisdiction maintains full (not “suspended” or “associate”) membership status with the International Federation of Accountants.
ASCII Transliterated Where non-roman characters are changed to an ASCII equivalent. e.g. à ã ä ả will be transliterated to a
Authority Check (filter menu) During the LEI has been requested and the RapidLEI Vetting team is currently verifying the Signing Authority which may include inspection of a Letter of Authorization
Branch Office A branch office is a lead international branch or international branch network outside of the Head Office’s jurisdiction. An international branch, as defined here, is legally dependent on the head office legal entity and cannot exist without its head office legal entity
Business Rule GLEIF’s legal, organizational and technical rules for implementation of the LEI-ROC’s high-level policies for Level 2 data.
Challenge A mechanism co-ordinated by the GLEIF to allow data accuracy to be challenged and therefore improved by all stakeholders. See https://www.gleif.org/en/lei-data/challenge-lei-data
City/Town Within the LE-RD data this is the name of the City where the Legal Entity is registered.
Common Data Format (CDF) https://www.gleif.org/en/about-lei/common-data-file-format/lei-cdf-format
Confirmation Request An appropriate out-of-band communication requesting verification or confirmation of the particular fact at issue.
Confirming Person A position within an Applicant’s organisation that confirms the particular fact at issue.
Contract Signer A natural person who is either the Applicant, employed by the Applicant, or an authorised agent who has express authority to represent the Applicant, and who has authority on behalf of the Applicant to sign a Contract.
Country The country of the entity’s Legal Address or Headquarters Address. Expressed as an ISO 3166-1 code such as US or FR
Demand Deposit Account A deposit account held at a bank or other financial institution, the funds deposited in which are payable on demand. The primary purpose of demand accounts is to facilitate cashless payments by means of check, bank draft, direct debit, electronic funds transfer, etc. Usage varies among countries, but a demand deposit account is commonly known as a share draft account, a current account, or a checking account.
Direct Parent The Direct Parent, or “direct accounting consolidated parent” is defined as the lowest level legal entity preparing consolidated financial statements for the entity. For more information, please refer to the LEI ROC publication “Collecting Data on Direct and Ultimate Parents of Legal Entities in the Global LEI System” on https://www.leiroc.org/publications/gls/lou_20161003-1.pdf
Duplicate When an LEI is issued which contains LE-RD data which refers to a Legal Entity which already has this same data referenced the latest LEI is identified as the duplicate and should not be used. The record is ordinarily updated by RapidLEI to point to the correct (initial) LEI.
Entity Legal Form In the context of a Legal Entity, the legal form in the Jurisdiction of Incorporation under which the Legal Existence of the entity is categorised (e.g. Limited Liability Company or Public Company).
Entity Legal Status In the context of a Legal Entity, the status in the Jurisdiction of Incorporation under which the Legal Existence of the entity status is categorised (e.g. Active or Dissolved).
External Relationship Record Relationship Record created by an LOU when parent company has an LEI. This file is intended for publication to all participants in the Global LEI System
Head Office Usually the International office of a group of companies or the main office in any one country with multiple offices in different
Headquarters Address The physical address of the headquarters of the Legal Entity which may also be the same as the Legal Address
Guideline A collection of procedural specific suggestions for best practice.
Incorporating Agency In the context of a Legal Entity, the government agency in the Jurisdiction of Incorporation under whose authority the legal existence of the entity is registered (e.g., the government agency that issues certificates of formation or incorporation). In the context of a Government Entity, the entity that enacts law, regulations, or decrees establishing the legal existence of Government Entities.
Independent Confirmation From Applicant Confirmation of a particular fact received by the LOU pursuant to the provisions of the GLEIF rules and LOU service provisions or binding upon the Applicant.
Individual A natural person and therefore unable to obtain an LEI.
Internal Relationship Record Relationship Record created by an LOU for internal exchange with GLEIF and the LEI ROC (including the PNI data element).
International Organisation An organisation founded by a constituent document, e.g., a charter, treaty, convention or similar document, signed by, or on behalf of, a minimum of two Sovereign State governments.
Jurisdiction of Incorporation In the context of a Legal Entity, the country and (where applicable) the state or province or locality where the organisation’s legal existence was established by a filing with (or an act of) an appropriate government agency or entity (e.g., where it was incorporated). In the context of a Government Entity, the country and (where applicable) the state or province where the Entity’s legal existence was created by law
LEI Record An XML data record in LEI-CDF format describing one legal entity. See
Latin Notary A person with legal training whose commission under applicable law not only includes authority to authenticate the execution of a signature on a document but also responsibility for the correctness and content of the document. A Latin Notary is sometimes referred to as a Civil Law Notary.
Last Update Date The date on which the information within the record was most recently updated by the Managing LOU
Legal Address The official address of a company, as recorded with the Incorporating Agency, to which official documents are sent and at which legal notices are received.
Legal Entity An association, corporation, partnership, proprietorship, trust, or individual that has legal standing in the eyes of law. A legal entity has legal capacity to enter into agreements or contracts, assume obligations, incur and pay debts, sue and be sued , and to be held responsible for its actions.
Legal Entity – Other Names Alternative past and present names under which the Legal Entity is registered by the Registration Authority in the Jurisdiction of Incorporation
Legal Entity – Reference Data Presented within a Common Data Format (CDF) structure Legal Entity Reference Data (LE-RD) covers items such as Legal Entity Form, Legal Entity Status, Legal Name and Legal Entity Address.
Legal Entity – Relationship Record Identifies the legal entities involved. Specifies the type and other characteristics (e.g. dates) of the relationship. Shows relationship validation and reporting information collected by the LEI issuing organization responsible for managing the relationship record.
Legal Existence A Legal Entity has Legal Existence if it has been validly formed and not otherwise terminated, dissolved, or abandoned.
Legal Practitioner A person who is either a lawyer or a Latin Notary and competent to render an opinion on factual claims of the Applicant.
Maintenance A generic term used by LOUs to cover the amendment of LEI data and the annual renewals.
Managing LOU / LEI Issuer The LOU which manages and maintains the data of an LEI.
Non-LEI parent A (direct or ultimate) consolidated accounting parent according to the applicable accounting rules, which therefore must be reported, but does not yet have an LEI. – See Provisional Node Identifier (PNI)
Notary A person whose commission under applicable law includes authority to authenticate the execution of a signature on a document.
Opt-Out Reason ·  No LEI: The parent does not consent to have an LEI, or the relationship is not yet known, or a relationship is not yet defined due to the absence of a parental LEI.
·  Natural Persons: There is no parent according to the definition used, because the entity is controlled by natural person(s) without any intermediate legal entity meeting the definition of accounting consolidating parent.
·  Non Consolidating: There is no parent according to the definition used, because the entity is controlled by legal entities not subject to preparing consolidated financial statements.
·  No Known Person: There is no parent according to the definition used, because there is no known person controlling the entity (e.g., diversified shareholding).
·  Legal Obstacles: Obstacles in the laws or regulations of a jurisdiction prevent providing or publishing this information.
·  Consent Not Obtained: The consent of the parent was necessary under the applicable legal framework and the parent did not consent or could not be contacted.
·  Binding Legal Commitments: Binding legal commitments (other than the laws or regulations of a jurisdiction), such as articles governing the legal entity or a contract, prevent providing or publishing this information.
·  Detriment Not Excluded: The child entity has sought to consult the parent entity about the reporting of the parent information but could not confirm the absence of detriment in a way that can appropriately prevent liability risks for the child entity.
·  Disclosure Detrimental: The disclosure of this information would be detrimental to the legal entity or the relevant parent. This will include reasons generally accepted by public authorities in similar circumstances, based on a declaration by the entity.
Order Status (RapidLEI Portal) The status of the order within the RapidLEI ordering system:
·  To Be Renewed – A list of LEIs ready to be renewed. Taking action early avoids the possibility of an LEI record accidentally falling into a LAPSED status and potentially becoming invalid for transacting and reporting.
·  Lapsed – A list of LEIs) which have now LAPSED
·  Pending – A list of LEI(s) where RapidLEI have completed tasks and need the Applicant to resume the application by clicking the blue ‘Actions’ button.
·  Awaiting Signature – A list of LEI(s) requiring an eSignature on the contract. Clicking on the blue ‘Actions’ button initiates the signing process.
·  Declined – The signing of the contract which is mandatory for issuance of an LEI was declined by the Signing Authority.
·  In Progress – The Rapid LEI team is progressing with these LEI orders.
·  Issued – Lists all the LEIs with a status of ISSUED
·  LEI Transferred – When an LEI Number has been transferred out of the RapidLEI system to another managing LOU, the historical record of the LEI remains within this filer.  No changes to the LEI can be made unless the LEI is imported back into the RapidLEI identity platform.
·  Import in progress – The Rapid LEI team is progressing with the import of these LEIs.
·  Duplicate – This is a list of LEIs (if any) which have been accidentally DUPLICATED. These LEIs are NOT the surviving LEIs so the LEI code should not be used – It is for reference only.
·  Merged – This is a list of LEIs (if any) which relates to Legal Entities that have been merged into other entities. The LEI code should not be used – It is for reference only.
·  Retired – This is a list of LEIs (if any) which relate to Legal Entities that have ceased to operate. The LEI code should not be used – It is for reference only.
·  Annulled – This is a list of LEIs (if any) which have been ANNULLED, having been created and later determined to be in error. The LEI code should not be used – It is for reference only.
·  Ready To Publish – These LEI(s) are ready to be published to the GLEIS. There is a limit of 10 publications a day for each LOU, so please allow up to 144 minutes + a further 24 hours to elapse before all parties can see the updates (24 hours as the GLEIF concatenated files are published daily)
·  Cancelled – LEI applications which have been CANCELLED part way through the process.
·  Authority Check – The RapidLEI Vetting team is currently verifying the Signing Authority is empowered to request an LEI.  This usually indicates that all other LE-RD level 1 checks are complete.  As this  may include inspection of a Letter of Authorization it may take several hours before the LEI is issued –  Note that October 2020 will see this reduced to minutes for fully automated business registries.
Parent Reference Data Record Reference Data associated with the PNIs reported in the Internal Relationship Record. This is created by the LOU for internal exchange with GLEIF and the LEI ROC.
Postal Code A Postal, ZIP, or PIN Code which is the legal Postal Code of the entity’s Legal Address or Headquarters Address.
Provisional Node Identifier (PNI) A code conforming to the technical standards (without reference data) of ISO 17442 and with a separate prefix not assigned to any LOU for LEI issuance.
Qualified Government Information Source (QGIS) A Qualified Government Information Source (QGIS) is a regularly-updated and current, publicly available, database designed for the purpose of accurately providing the information for which it is consulted, and which is generally recognised as a dependable source of such information provided that it is maintained by a Government Entity, the reporting of data is required by law, and false or misleading reporting is punishable with criminal or civil penalties
Qualified Government Tax Information Source (QGTIS) A Qualified Government Tax Information Source is a Qualified Government Information Source that specifically contains tax information relating to Legal Entities or Individuals (e.g., the IRS in the United States).
Qualified Independent Information Source (QIIS) A Qualified Independent Information Source (QIIS) is a regularly-updated and publicly available database that is generally recognised as a dependable source for certain information. A database qualifies as a QIIS if:
1.        Industries other than the LOU industry rely on the database for accurate location, contact, or other information; and
2.        The database provider updates its data on at least an annual basis.
Ready to Publish (Filter) A transient state for the LEI, where all workflows have been completed and the LEI is awaiting the next scheduled publication to the GLEIF (Every 160 minutes)
Reference Data The entity description and registration information (where applicable) associated with an LEI or PNI (could be an LEI-CDF record or a record in the provisional “Parent Reference Data format”).
Registration Authority A Governmental Agency that registers business information in connection with an entity’s business formation or authorisation to conduct business under a license, charter or other certification. A Registration Authority MAY include, but is not limited to (i) a State Department of Corporations or a Secretary of State; (ii) a licensing agency, such as a State Department of Insurance; or (iii) a chartering agency, such as a state office or department of financial regulation, banking or finance, or a federal agency such as the Office of the Comptroller of the Currency or Office of Thrift Supervision.
Registration Authority ID A Code provided by the Global LEI Foundation to represent the Registration Authority. See https://www.gleif.org/en/about-lei/gleif-registration-authorities-list
Registered Agent An individual or entity that is: (i) authorised by the Applicant to receive service of process and business communications on behalf of the Applicant; and (ii) listed in the official records of the Applicant’s Jurisdiction of Incorporation as acting in the role specified in (i)
Registered Company Name / Legal Name The name assigned to the Legal Entity by the Incorporating Agency in such entity’s Jurisdiction of Incorporation.
Registered Company Number / Registration Authority Entity Id The number assigned to a Legal Entity by the Incorporating Agency in such entity’s Jurisdiction of Incorporation.
Registration Status (LEI) The status of the LEI record as recorded by the GLEIF and presented within the public CDF record:
·  ISSUED – The LEI registration has been validated and issued.
·  LAPSED – The LEI registration has not been renewed by its Next Renewal Date, and is not known by public sources to have ceased operation.
·  MERGED – The LEI registration for the entity has been merged into another legal entity, such that this legal entity no longer exists as an operating entity.
·  RETIRED – The LEI registration for the entity has ceased operation, without being merged into another entity.
·  DUPLICATE – The LEI registration has been determined to be a duplicate of another LEI Registration; the DUPLICATE status is assigned to the non-surviving registration (i.e. the LEI that should no longer be used).
·  TRANSFERRED – An LEI registration that has been transferred to a different managing LOU.
·  PENDING_TRANSFER – An LEI registration requested to be transferred to another LOU. The request is being processed at the sending LOU.
·  PENDING_ARCHIVAL – An LEI registration is about to be transferred to a different LOU, after which its registration status will revert to a non-pending status.
·  ANNULLED – An LEI registration that was marked as erroneous or invalid after it was issued.
·  CANCELLED – An LEI registration that was abandoned prior to issuance of an LEI.
Regulated Financial Institution A financial institution that is regulated, supervised, and examined by governmental, national, state or provincial, or local authorities
Translator An individual or Business Entity that possesses the requisite knowledge and expertise to accurately translate the words of a document written in one language to the native language of the LOU
Relationship Record (RR) An XML data record in RR-CDF format detailing one relationship between two legal entities, as reported by (initially) the child entity to their LOU, and by the LOU to GLEIF.
Receiving LOU LOU that will become the Managing LOU
Reporting Exceptions Record No Relationship Record but “Exception Reason” recorded.
Sending LOU Current Managing LOU, which will transfer management to the Receiving LOU.
Standard A collection of procedural-specific requirements that must be met by everyone.
State/Region The state, prefecture, province, or administrative jurisdiction of the entity’s Legal Address or Headquarters Address. Expressed as an ISO 3166-2 code such as US-CA for California
Transfer Objection Form Formal document provided by Sending LOUs to gather all required information in case a Legal Entity objects to the transfer request –see details in chapter 1.
Transfer Request Form Formal document provided by Receiving LOUs to gather all required information for an LEI transfer –see details in chapter 1.
Transition Rule A rule stipulating what LOUs, GLEIF and legal entities must do when a relationship record changes from one allowed state to another.
Ultimate Parent The Ultimate Parent, or “ultimate accounting consolidating parent,” is defined as the highest level legal entity preparing consolidated financial statements for the entity. For more information, please refer to the LEI ROC publication “Collecting Data on Direct and Ultimate Parents of Legal Entities in the Global LEI System” on https://www.leiroc.org/publications/gls/lou_20161003-1.pdf
Use Case A specific operation scenario which applies one or more Business Rules.
Validation Authority The primary registration authority used by the LOU to validate the entity data.
Validation Authority ID The reference code of the registration authority, taken from the Registration Authorities List which is maintained by the GLEIF.
Validation Sources The level of validation of the reference data provided by the registrant. Possible values for this field are:
Validation Sources

Verified Method of Communication

·     FULLY_CORROBORATED – Based on the validation procedures in use by the LOU responsible for the record, there is sufficient information contained in authoritative public sources to corroborate the information that the submitter has provided for the record.
·     PARTIALLY_CORROBORATED – Based on the validation procedures in use by the LOU responsible for the record, the information supplied by the registrant can be partially corroborated by public authoritative sources, while some of the record is dependent upon the information that the registrant submitted, either due to conflicts with authoritative information, or due to data unavailability.
·     ENTITY_SUPPLIED_ONLY – Based on the validation procedures in use by the LOU responsible for the record, the information associated with this record has significant reliance on the information that a submitter provided due to the unavailability of corroborating information.
·     PENDING – The validation of the reference data provided by the registrant has not yet occurred.
·     The use of a telephone number, a fax number, an email address, or postal delivery address, confirmed by the LOU as a reliable way of communicating with the Applicant.
Verified Professional Letter A Verified Accountant Letter or Verified Legal Opinion

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