RapidLEI has received notice from the GLEIF that effective 27th July 2023, Business Entity Data B.V. (a service of DTCC) has terminated all of its LEI services. Business Entity Data B.V. will retire its GMEI Utility, to be concluded by August 22, 2023.
LEIs managed by Business Entity Data B.V. will be transferred to other LEI issuers, with packets of LEIs defined by jurisdiction. RapidLEI has no control in this extraordinary process, it is being managed entirely by the GLEIF.
Existing GMEI Utility clients may reference the Frequently Asked Questions (FAQs) published by Business Entity Data B.V. to help identify your new LEI provider and clarify other operational matters.
Can I transfer my LEI to RapidLEI instead of the LEI Issuer allocated by the GLEIF?
Not yet. No transfers can be made to RapidLEI until the GLEIF completes its bulk transfer process, expected to be completed by August 22, 2023. After which, LEIs can be transferred to RapidLEI by means of the usual transfer process.
What if my LEI was already in the process of being transferred to RapidLEI?
The GLEIF is managing the bulk transfer of LEIs out of GMEI Utility, as such RapidLEI has no control over LEIs in process. If your LEI was already in the transfer process out of GMEI Utility and into RapidLEI at the point of announcement, you should have been contacted by RapidLEI client service staff to update you on the situation. If not, contact us at [email protected] asap.
What if I have multiple LEIs across multiple jurisdictions?
The GLEIF is allocating LEIs based on jurisdiction of incorporation of your Legal Entity. If you operate a group with Legal Entities across multiple jurisdictions it is possible that your LEIs will be allocated to multiple LEI Issuers. To clarify your situation please refer to the GMEI Utility FAQ to identify which LEI Issuers will receive your LEIs from across your jurisdictions.
Can RapidLEI Registration Agents contact GMEI Utility clients with transfer offers?
To repeat, no transfers can be made to RapidLEI until the GLEIF completes its bulk transfer process, expected to be completed by August 22, 2023. After which, LEIs can be transferred to RapidLEI under the provisions made in the RapidLEI Marketing Guidelines and the outreach rules defined in the GLEIF RA Governance Framework.
We are committed to supporting LEI clients as best we can during this highly unusual event. Please contact [email protected] should you have any specific questions.
