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FAQ: replies to your questions

Request an LEI code from LEI-Italy

Italian companies, investment funds represented by their managing companies listed in the Business Register, pension funds and all other institutions subject to reporting according to the EMIR Regulation.

For companies and other institutions the necessary information consists of the fiscal code of the legal entity for which the LEI code has been requested, the requesting organisation and information about a person to be contacted, if needed, during the application and renewal procedures. Investment funds should also provide the sector code of the fund in addition to the above information about their managing company, while pension funds should provide their registration number in the Pension Fund Registry maintained by Covip.

The prerequisite to obtaining an LEI is to provide the LEI of the Head Office. The branch must be registered to the Italian Business Register as a secondary seat and provide an authorization signed by the Head Office to request an LEI.

LEI-Italy, once the application is registered and the necessary checks are performed, will send a certified email message to the PEC address of the legal entity to which the LEI code will be assigned (or to the address of the expressly delegated organisation). The address used will be the one registered in the Businesss Register or the one indicated in the Lei application, if the requesting entity does not have to be registered in the Business Register.

The entity requesting the LEI, having received the registered email (PEC) from LEI-Italy, must validate the information it contains by having an authorised representative (or delegated person) digitally sign the attachment.
Once the document is signed, the requesting entity may proceed to the activation of the LEI by clicking on the relative link contained in the registered email (PEC) message. Remember that only those codes for which the entire issuing procedure has been completed will be considered active and suitable for use by the Trade Repositories.

Lei-Italy also handles "es;multiple"es; requests online; in fact, a single party may submit applications for LEI codes for several companies or investment funds. That party, acting as delegate to complete the entire application procedure (and therefore to digitally sign the document on behalf of several companies), must furnish, together with the online applications, proof of the delegates received. Pension funds and other Institutions should be advised that they may not present the LEI application via a Delegate.

Issuing an LEI code involves the following expenses:

Activation (including the first year) Annual Renewal
Single Request 80,00 € 65,00 €
Bulk Service; (min. 25) 65,00 € 60,00 €

The fees indicated do not include VAT.

The foreseen payment methods are:
   1. credit card using the CartaSi portal;
   2. MAV payment form. The payment details will be communicated during the online activation procedure;
   3. bank transfer, foreseen only for requests of high quantity multiple requests by delegated persons

Completed requests are immediately processed through LEI-Italy's integration with the national Business Register, and if no problems arise the LEI code will be pre-assigned. The completion of the procedure will then depend on the time the requester takes in uploading, via web, the digitally signed document required by LEI-Italy and in effecting payment for the service.

Yes, transferring a LEI code from one pre-LOU to another is foreseen by the rules of the LEI system and is free of charge. To ask for a transfer of a code to LEI-Italy it is enough to fill in the template and send it to the email address info.lei-italy@infocamere.it.

Renew an LEI code issued by LEI-Italy

An expired LEI code cannot be used for the trade reporting activities foreseen by the EMIR legislation and similar services. The corresponding company information will no longer be updated and the Legal Entity may be associated with an invalid code. The LEI code and the related expiration dates are reported in the English version of the official company profile issued by the Italian Business Register available at www.registroimprese.it

Renewing an LEI code is easy: it is enough to pay the renewal fee before the expiration date. The expiration date can be found in the section "LEI Search".

It is possible to pay the renewal fee online using
   1. credit card;
   2. MAV payment form;
   3. bank transfer, only for delegates presenting a large number of renewals.

When the expiration date is near, an email message will be sent to the code assignee or the person indicated as delegate for LEI renewal with a direct link to the online renewal procedure for the specific LEI code.
Moreover, within 40 days of the expiration date, the code assignee can renew the code directly at the LEI-Italy website using the "Renew an LEI" function.

Global LEI System

The Legal Entity Identifier (LEI) is a unique code made up of 20 alphanumeric characters based on the ISO 17442 international standard issued to identify the parties to financial transactions in all world markets and legal jurisdictions.

The creation of a global and uniform system for identifying legal persons participating in financial markets will greatly contribute to the management of global risks. For legal entities, the attribution of a unique international identifier will simplify regulatory reporting and increase the efficiency of internal procedures.

The Financial Stability Board (FSB) was tasked by G20 leaders to coordinate the activities to establish a global identification system for legal entities. The system which issues LEI codes is overseen by the Regulatory Oversight Committee (ROC) which is made up of members of the FSB and other public institutions. The implementation of the global system is controlled by the Central Operating Unit (COU), which guarantees the use of uniform, global standards. The COU is currently being created, and it will be managed by the Global Legal Entity Foundation (GLEIF), a non-profit foundation specifically set up in 2014 with responsibility over system operations. The different Local Operating Units (LOU), through their knowledge of the national legal frameworks, are at this time responsible for the issuing of LEI codes.


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