LEI Code: international identifier for legal entities

The LEI Italy service allows Italian companies and investment funds to apply for and renew an LEI (Legal Entity Identifier), the unique, global identifier for participants in financial transactions.
The Global LEI System
In 2011, to promote the transparency of global financial markets, G20 Leaders called on the Financial Stability Board (FSB) to coordinate activities to create a unique global identification system, later called the Global Legal Entity Identifier System (GLEIS).
Each Legal Entity's unique identifier is known as the Legal Entity Identifier (LEI) and it permits regulatory authorities to identify the participants in transactions in global financial markets, facilitating national and cross-border actions to prevent and contain risks in these markets.
The GLEIS acts under the surveillance of the Regulatory Oversight Committee (ROC), composed of national and supranational regulators and financial authorities and under the governance of the Global Legal Entity Identifier Foundation (GLEIF), the international foundation established in 2014, with seat in Basel, responsible for oversight of the operations of the GLEIS and the ROC.



 
The Italian LEI System
Unioncamere, the Italian National Association of Chambers of Commerce, Industry, Handiwork and Agriculture, in partnership with InfoCamere S.c.p.a, the technological arm of the Chamber of Commerce Network, has been designated Italian pre-Local Operating Unit (pre-LOU), and on February 7, 2014, obtained the international endorsement of the LEI ROC through the candidacy promoted by the Bank of Italy and Consob, the national representatives in the Regulatory Oversight Committee.
The Italian pre-LOU is responsible for the assignment of LEI codes; the LEI codes issued by Unioncamere are accepted internationaly as unique identifiers for the registration of derivative contracts at trade repositories and for all other foreseen uses by regulators.
 

 
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