Lapsed LEI – what to do now

Contents

 


How to Reactivate a lapsed LEI

Your LEI must be renewed annually to remain ACTIVE. Failure to renew it will put the LEI into a LAPSED status in the Global LEI System index. Lapsed status is not good for your organization, it could mean transactions are blocked or the risk of non-compliance fines.

Don’t worry, RapidLEI has a Team of specialists who can help renew lapsed LEIs and return them to ACTIVE status quickly:

  • Click on the below button
  • Log into your RapidLEI account
  • Complete and submit the LEI renewal application form
  • The RapidLEI renewal team will be in touch with you if they need further information

 

 


Transferring lapsed LEIs

If your lapsed LEI is under the management of another GLEIF LOU, it must first be transferred to RapidLEI management. We have developed a streamlined LEI transfer process that operates within the rules of GLEIF transfers.

  • Click on the below transfer button
  • Create a new RapidLEI account
  • Complete and submit the LEI application form
  • Prepare to complete the Letter of Authorization (download LoA)
  • The RapidLEI transfer team will be in touch with you if they need further information

 

 


How do I know if my LEI has lapsed?

Go to our LEI Lookup tool and enter your LEI number. The report will return

Lapsed LEI Status

LAPSED: An LEI registration that has not been renewed by the NextRenewalDate and is not known by public sources to have ceased operation.

ISSUED: As of the last report or update, the Legal Entity reported that it was legally registered and operating.

 


Reactivating lapsed LEIs purchased through RapidLEI Partners

Please contact your Partner directly to process the LEI reactivation. RA Partners work very closely with RapidLEI to reactivate lapsed LEIs quickly.

 


The consequences of a lapsed LEI

  1. You risk non-compliance with dozens of different regulations
  2. Your record will contain out of date identity information
  3. LEI records are historical and persistent

Read more in our detailed article – Three reasons why you should never let your LEI lapse