Obtaining a Legal Entity Identifier (LEI) is important for organizations participating in financial transactions. Once you have submitted your LEI registration application, it’s crucial to confirm that your LEI registration has been successfully processed and verified. This guide will explain how to verify the status of your LEI registration and ensure that your LEI is active and valid.
Understanding the Role of an LEI Register
Before diving into the verification process, it’s important to understand the role of an LEI Register. These are authorized organizations to issue and maintain LEI codes. They play a crucial role in ensuring the accuracy and integrity of LEI data in the global LEI system.
Check Confirmation Email or Notification
After submitting your LEI registration application through an authorized register, you should receive a confirmation mail or notification acknowledging receipt of your application. This initial communication confirms that your application has been received and is being processed.
Access the LEI Database
To verify the status of your LEI registration, access the official database maintained by the website you applied through. The database contains up-to-date information about all LEI registrations and their current status. You can search for your LEI code or entity name within the database to retrieve details about your registration.
Review Registration Details
Once you have accessed the database, review the registration details associated with your LEI code. Verify that the information provided is accurate and matches the details of your legal entity, including the legal name, registered address, ownership structure, and primary business activities. Any discrepancies should be reported to the registration for correction.
Check LEI Status and Validity
Look for your LEI’s status within the database to determine its current validity. An active and valid LEI should be marked as “issued” or “current.” If your LEI status is listed as “inactive” or “lapsed,” renewal or updating of registration details may be required to reactivate the LEI.
Contact for Assistance
If you encounter any issues or have questions about the status of your LEI registration, don’t hesitate to contact the service directly. They can guide you in resolving registration-related issues, updating information, or renewing your LEI if necessary.
Ensure Timely Renewal
Once your LEI registration is confirmed and active, renew it annually to maintain its validity. Renew it before the expiry to avoid its status becoming inactive or lapsed, which may impact your ability to participate in certain financial transactions or regulatory reporting.
Stay Informed
Maintaining awareness of your LEI status is crucial for meeting regulatory requirements and participating in financial markets. Regularly check for updates or changes to your LEI registration details to ensure accuracy and compliance with reporting obligations. By staying informed and proactive, you can leverage the benefits of having a valid and active LEI for your organization’s financial operations.
Confirming your LEI registration status is essential for ensuring compliance and transparency in financial transactions. You can verify your LEI code’s validity and active status by accessing the official LEI Register database and reviewing your registration details. Stay proactive in managing your LEI registration by keeping information updated and renewing your LEI on time. Contact the authorized registration for assistance and guidance if you have questions or concerns about your LEI status.