Information regarding the requirement to obtain Legal Entity Identifier code
03-Aug-2017, 16:51 / Products & Services We would like to inform you that the requirement regarding the mandatory use of the international Legal Entity Identifier code (LEI) will be introduced in the near future in all of the European Union countries.
Given requirement is applicable to ALL of the legal entities that conduct or intend to conduct transactions with the financial instruments. Meanwhile the given requirement does not depend on the country of the registration of the legal entity – the client. The underlying principle of the new requirement is the fact, that the bank or a brokerage firm that provides investment services to the client is situated in the European Union.
LEI code is a unique 20-character code that consists of letters and numbers that enables to identify a legal entity that conducts transaction on the financial markets.
In line with the requirements of the regulations of the EU, starting from 1 st of November 2017 the presence of the LEI code will BECOME MANDATORY for the client in order to conduct the transactions with the derivative financial instruments, and starting from 3 rd of January 2018 it will become mandatory for the TRANSACTIONS WITH ALL other FINANCIAL INSTRUMENTS and securities.
Thus, we strongly recommend to all legal entities interested in these services to timely obtain the LEI code.
In case of lack of LEI code of the legal entity after 1 st of November 2017 the bank will not be able to accept orders to conduct transactions with the derivative financial instruments, and after 3 rd of January 2018 – also with all other financial instruments and securities.
Shall you have questions in regard to obtaining of the LEI code or you require an assistance in its obtaining, please do not hesitate to contact the managers from the Sales departments of the financial markets via phone: (+371) 67 025 284 or via e-mail firstname.lastname@example.org, or contact your personal manager.
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