One code for every counterparty
Bank, broker, fund administrator or reporting system: each can verify the same entity in GLEIF instead of interpreting the relevant federal, provincial or territorial register records.
Why it exists
Why a Canadian entity may need an LEI
Canadian registry numbers vary by jurisdiction; an LEI gives counterparties one identifier they can verify in the global GLEIF index.
Without one, the file stops
A transaction, report or onboarding file can pause when the counterparty requires an LEI and the Canadian entity has none.
Lapsed is almost as bad
The characters still exist. Status Lapsed tells counterparties the Canadian company’s data was not confirmed this year. Renew in time.
It is not a credit rating
It only says which legal person you are, and whether that record is current.
What is an LEI?
It gives a federally, provincially or territorially registered Canadian entity one public identifier for financial markets.
Who needs one in Canada?
Canadian entities may be asked for an LEI in derivatives reporting, securities operations, fund administration and international banking.
Why you need it
Canadian registry numbers vary by jurisdiction; an LEI gives counterparties one identifier they can verify in the global GLEIF index.
Do I have to renew?
Yes. Pay once for 1, 3 or 5 years.
So counterparties can identify the correct Canadian entity.
The LEI is that answer, with a yearly check that the record is still true. 3- and 5-year plans are one payment, so you are not relying on an annual reminder.