The Legal Entity Identifier code is one of two crucial identifiers under Mifid II
The number of legal entity identifiers, a
code to identify financial firms under Mifid II, has remained
low, according to a new study that suggests firms are risking
being out of compliance when the controversial European
regulatory reforms take effect in January 2018.
Legal entity identifiers (LEIs) are
20-character codes that identify legal entities in financial
transactions and one of the two key data points in Mifid II.
All firms bound by Mifid II will have to register for an LEI
before January 2018 but the overall number of LEIs issued has
hovered around 450,000 since 2012.
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