The LEI renewal process is simple:
An LEI number needs annual renewal. This means that an LEI issued on 02.01.2018 will have to be renewed before 02.01.2019. If the deadline has passed, your LEI will become inactive until renewed again. This renewal process is necessary to ensure the data in the Global LEI Pool is relevant and up to date.
LEI renewal is an annual update of the registration data related to the Legal Entity in the GLEIF database. The data related to the entity has to be updated at least once a year.
LEI transfer is the movement of the LEI code from one service provider to another. The LEI is transferrable to ensure the client has a choice between the service providers. If the client is not happy with the fees, service or data quality it can move the LEI to another LEI issuer (LOU). In the process of transfer the LEI number do not change. It is a back-end process which is not visible to end customers. All the LEI codes are valid in every jurisdictions. Investment service providers can not differentiate the LEI numbers according to the LOU.
We know that renewing an LEI every year can be a time consuming process.
LEI Register offers the automatic renewal of LEI number for 1-, 3- or 5-year period. Whatever the period, you will receive a notification from LEI Register a month prior to the deadline.
In the case of multi-year LEI renewal, the LEI Register will take the responsibility to update your data before renewal from the official company registry and renew your LEI code on a yearly basis. Our aim is to keep your LEI data up to date and accurate.
No, you can not apply for a new LEI, the lapsed LEI has to be renewed. Once the LEI number has been assigned to a Legal Entity it can not be changed. LEI is a unique identifier and each company can only have 1 LEI number.
You can check the next renewal date of the LEI on our website or visit the GLEIF (Global Legal Entity Identifier Foundation) database.
We always suggest to keep your LEI number active. However if you are sure that you do not need the number any more, just do not pay the renewal fee and the LEI will become inactive. No more action is required on your behalf.
We treat the lapsed LEI as it should - you pay for renewal only, not the cost for a new LEI.