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Postby giompizz » Thu Nov 16, 2017 9:42 am

Was just wondering what the point of a LEI code is? and what type of corporations should/require to have one? Whats the difference with a company number through companies house? sorry clueless law student here!
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Re: LEI-Code

Postby atticus » Thu Nov 16, 2017 9:46 am

Through the magic that is google: https://www.leiroc.org/lei.htm

The Legal Entity Identifier (LEI) is a 20-character reference code to uniquely identify legally distinct entities that engage in financial transactions and associated reference data. Two fundamental principles of the LEI code are:

- Uniqueness: an LEI is assigned to a unique entity. Once assigned to an entity, and even if this entity has for instance ceased to exist, a code should never be assigned to another entity.

- Exclusivity: a legal entity that has obtained an LEI cannot obtain another one. Entities may port the maintenance of their LEI from one operator to another. The LEI remains unchanged in the process.

Clearly the Companies House company number is a different thing. It appears that LEI codes may be obtained by entities that are not companies registered at Companies House.
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