renew your lei
To maintain an active LEI number, it is required that each LEI record is renewed on an annual basis. The renewal process is a critical part of the LEI system and ensures that the information associated with the record can be relied on by other market participants and regulators who use the data.
LEI Registrations will review the reference data associated with your entity to ensure that it is accurate and reflects any changes that have occurred since the record was last updated
When you renew your LEI number via the renewal form you will be asked to confirm the entity name and any changes to your LEI data since the last update. Changes to the supporting LEI data may include changes of address, legal status or entity ownership.
Please note where a LEI is not renewed annually, the registration status will default to ‘lapsed’ and this may impact your entity’s ability to make future financial transactions.
CONTROL & CHECKS
As part of the renewal process we will conduct a series of searches against the applicable public registries, for example Companies House, as well as the global master LEI list. Our control checks are designed to confirm that no data conflicts or duplications exist. With over 1.8 million LEI numbers now issued globally, it is even more vital that these checks are completed on an annual basis.
The annual renewal and verification of legal entity identifier data, ensures that the information linked to your LEI record remains accurate and compliant with LEI practices.
Where entities are active in financial markets, the quality of data linked to your entity is paramount so that firms can rely on it when carrying out their regulatory reporting obligations.
PROCESSING YOUR renewal
As soon as we have received your instruction to renew your LEI record we will start the reverification process. In instances where updates are required to your LEI record, we look to verify these from public records, and when not possible we may request additional documentation to support the change.
Once your LEI record has been corroborated and successfully renewed, you will receive an email confirming your LEI number.
In addition, we will forward documentation detailing your entity’s full data record as it appears on the LEI global master database.
timeframe
The end-to-end renewal process takes between 1 and 3 days, however the online application and payment process takes around 5 minutes to complete.
Throughout the renewal process we will provide you with regular updates and we are always happy to answer any questions you may have.
Please note that you can renew your record anytime up to 30 days ahead of your actual renewal date and we will ensure your record retains an issued status for the full 12 months.
ANY QUESTIONS OR NEED SUPPORT?
If you have any questions regarding the renewal process, then please contact us via our contact form, by email or alternatively call us on 0800 689 3819.
Exc. VAT