This week we’ve been very excited to announce that Ubisecure is now an approved Legal Entity Identifier (LEI) issuer. For those that don’t know, LEIs are 20-digit, alpha-numeric code based on the ISO 17442 standard. They are required for unique identification of legal entities in many financial transactions under recent regulatory changes (MiFID II, MiFIR, Dodd-Frank) as well as providing the basis for other company identity verification requirements. The publicly available LEI data pool can be regarded as a standardised, global directory of uniquely verifiable company identities.
The GLEIF (Global Legal Entity Identifier Foundation) is the organisation tasked by the G20 and the international Financial Stability Board to support the LEI ecosystem. GLEIF CEO, Stephan Wolf, stated for the Ubisecure announcement:
“Accreditation is the process by which GLEIF evaluates the suitability of organisations seeking to operate within the Global LEI System as issuers of LEIs and custodians of LEI reference data. GLEIF looks forward to cooperating with Ubisecure in its role as an accredited LEI issuer.”
There are only about 30 LEI issuers globally, so it’s no simple task to have been approved. Receiving accreditation is a testament to the world class people, systems and processes at Ubisecure.
LEIs are available from our RapidLEI website, and initially we support issuance to companies in Finland, Sweden and the US. We’ll be expanding to remaining jurisdictions over coming months.
The accreditation news this week is just an early step for us towards helping create a safer, modern and connected world to do online business. Being an active part of a G20 endorsed ecosystem that’s dedicated to verifying, managing, and maintaining globally unique company identifiers is highly strategic for Ubisecure in our role as a digital identity technology company.
More on that in coming weeks, but in the here and now, if you’re in Finland, Sweden or the US and you need to obtain a new LEI, or renew an existing one, head on over to https://rapidlei.com to get your LEI faster and more easily than you’ve been able to before.
Read the press release on Ubisecure receiving accreditation to be an LEI issuer
The GLEIF have created excellent introductory videos on LEIs at https://vimeo.com/gleif