Legal Entity Identifier – Have you got yours?

If you are engaged in financial transactions, there is a good chance that you will need to obtain a Legal Entity Identifier (“LEI”), if you have not already done so. Counterparties subject to reporting requirements under the European Markets Infrastructure Regulation 648/2012 (“EMIR”) must have a LEI (as opposed to an interim entity identifier) from 1 November 2017. Any entity using an investment firm for a service that will result in a transaction reporting requirement under the Markets in Financial Instruments Regulation 600/2014 (“MiFIR”) must be able to provide that investment firm with a LEI from 3 January 2018.

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