The Legal Entity Identifier (LEI) is an alphanumeric code, consisting of 20 characters, based on the international standard ISO 17442, which makes it possible to uniquely identify legal entities (Legal Entities) operating in financial markets around the world.
The LEI code contains some basic information on the applicant legal entity (level 1 data), such as tax code, name, address of the registered office, legal form.
Furthermore, it also contains information relating to the applicant's corporate structure, that is who owns whom (level 2 data), particularly useful for reconstructing the corporate ramifications.
All these data are published in the LEI database, updated daily and available on the website of the GLEIF (Global Legal Entity Identifier Foundation), a non-profit organization that coordinates the global LEI system worldwide, and can be freely consulted by anyone interested through the appropriate functionality of research.
The LEI code serves to identify counterparties in financial transactions subject to reporting obligations in a simple, fast and standardized way. The LEI code is; uniquely associated with each applicant and cannot; be transferred from one legal entity to another.
The LEI code is mandatory for legal entities that transact financial instruments (such as stock trading, bonds, warrants, government bonds and derivatives). In the case of transactions in financial markets, the LEI code is mandatory for:
It is not mandatory for individuals even if they carry out financial transactions.
In Italy the LEI code can be requested quickly and easily through the InfoCamere LEI portal.
The activation request is; consisting of a few steps and takes place completely online:
Individuals who access the InfoCamere LEI portal with SPID or CNS, thanks to the automatic recognition of the digital identity of the applicant, they will not have to digitally sign the documentation attached to the LEI code request, so the processing times are even faster. Legal entities interested in obtaining an LEI code can request it directly on the InfoCamere LEI portal or delegate an intermediary for this purpose.
In the latter case it will be necessary to get a copy of the delegating party's identity document and a specific proxy document(by using the pre-filled proxy document you find while completing / entering the request or by filling the proxy document available for download in the InfoCamere LEI portal).
Proxy form for first activation and renewal
Once it has been activated by InfoCamere the LEI code can also be found using the Chamber of Commerce company registration details, available on the website www.registroimprese.it.
FastLEI is the InfoCamere LEI code issue or renewal service that allows you to obtain a LEI code in less than 24 hours, simply and safely.
Companies that are registered with the Business Register and are paying by credit card can access the FastLEI service.
It guarantees that you will obtain the LEI code on the same day if you complete the request by 3 p.m. If you send the request after 3 p.m. you will obtain the code by 12 noon on the next working day.
If you select the Annual Plan, the LEI code lasts for one year from the date of issue and from subsequent renewals.
Annual renewal of the code is compulsory to continue operating on financial markets: according to current regulations, an expired LEI code can non longer be used.
Do not allow your LEI code to lapse: operations may be blocked if you carry out financial transactions subject to reporting.
If you have activated or renewed a LEI code in the past, you will receive automatic notification by e-mail or in the private area of the InfoCamere LEI portal when the renewal date is approaching.
In this way you can ensure your LEI code does not lapse.
Thanks to the real time connection to the official Italian Business register, companies that are registered can access their Private area on the InfoCamere LEI portal and start their renewal request using a form pre-compiled with up-to-date information.
Those registered with the Business Register who already have an active InfoCamere LEI code can also take advantage of additional simplifications and renew using the direct link provided in their renewal notice, which is sent to the business’ certified e-mail address prior to the expiry date.
Those not registered with the Business Register can renew their LEI code by signing up to or accessing the InfoCamere LEI portal.
If you have a code activated by another operator you can always switch to InfoCamere LEI using a procedure that does not involve fees.
Find out more in this all' section of the portal.
You can select the three-year activation and renewal plan without having to worry about annual expiry of the LEI code.
Thanks to this InfoCamere service, your LEI code is always up-to-date. You can also receive the LEI Certificate free of charge every year, indicating its validity and expiry date.
Find out more about our Three-year Plans in this section of the portal.
Infocamere, the digital innovation company for the Italian Chambers of Commerce, is a LOU (Local Operation Unit), officially accredited by GLEIF for years and authorized to issue and renew LEI codes.
Among the main organizations worldwide and first in Italy for the management of LEI codes, InfoCamere provides a high quality and reliable service.
Local Operation Units (LOUs) are local entities authorized to assign LEI codes, to update and ensure the accuracy of the information associated with the codes within a specific jurisdiction.
Thanks to the real-time connection with the Register of Companies - the official registry of all Italian companies - the procedure for verifying the identity of those who request the LEI code from InfoCamere is simple and certified, and allows you to obtain your code in a very short time. Also during the renewal of the LEI code, direct interconnection with the Register of Companies allows you to proceed in an even faster and easier way to check the information in the LEI database and to confirm the renewal request..
The LEI Certificate is a document, issued by the LOU InfoCamere, that proves in real time that a specific legal entity is in possession of a LEI Code.
Its QR code provides information on the validity and expiry date of the code.
You can obtain a LEI Certificate:
With the Lei certificate you have access to numerous advantages, including:
The adoption of the LEI code is governed by various European regulations.
The first act was the EMIR regulation (n.684 / 2012 / EU) which made it mandatory in Europe to report details relating to transactions carried out in derivative financial instruments. (whether it is products listed on regulated markets or OTC) to the supervisory authorities (for Italy, Consob).
This was followed by two regulatory interventions that have consistently expanded the mandatory scope of the LEI code:
In order to develop a single European market for financial services, such legislation has among its main objectives the increase in the transparency of the markets and their supervision, the protection of investors and the improvement of transaction execution strategies.
From 3 January 2018, with the entry into force of the MIFID II / MIFIR directive, all legal entities that have opened a securities account with financial intermediaries must have an LEI code.
LOUs (Local Operating Units) are organizations authorized to issue LEI codes to legal entities that take part in financial transactions.
The LOUs deal with the registration and renewal of LEI codes, provide any additional services and are the main point of contact for those who request the issuance of LEI codes.
Accreditation is the process through which the GLEIF (Global Legal Entity Identifier Foundation) assesses the suitability of organizations wishing to operate within the Global LEI System as issuers of LEI codes and custodians of legal entity data.
