2m+ million organizations, trusts and funds now have LEI codes (see the full LEI statistics for more detailed data). It is firmly established as the global code to identify ‘who is who’, and ‘who owns whom’.
LEIs are required for many financial regulations in financial markets such as MifID II, MiFIR, Dodd-Frank Act, EMIR and more. Organizations attempting to trade under these regulations without an LEI Number will be unable to transact, or risk being fined. There are over 100 regulations requiring Legal Entity Identifiers, with additional regulations mandating inclusion going live every month.
Because they contain valuable, accurate and transparent identity data attributes, the LEI enables high levels of trust in an organization’s legitimacy and identity. Increasing numbers of data providers and credit check organizations utilize Legal Entity Identifiers in Know-Your-Customer (KYC) and client onboarding processes.