Is LEI a game-changer for AML?
The CEO of Global FinReg appears on 'The Laundry' podcast
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Global FinReg A/S is a leading LEI registration agent. We manage LEI codes for more than 19,000 Danish companies and offer easy-to-use solutions with competitive pricing, Danish-speaking customer service, and continuous updating of company data.
It is mandatory for all companies to have an LEI code if they trade in securities or derivatives. Global Finreg was founded in 2017 to make it fast, easy and secure to register and maintain an LEI code. Since then, we have helped more than 19,000 Danish companies handle their LEI registration.
We value our customer relationships and offer an easy, fast and secure application process. We are experts in financial reporting and company data. We validate all applications and provide ongoing maintenance and renewal of LEI codes. This means that you never have to worry about the validity of your LEI code. We take care of it all and tell you when it's time to renew your LEI.
If you want to know more about Global FinReg, you can visit our main page here, or contact our customer service in the form below.
We are a leading LEI registration agent and offer the best platform for handling LEI codes. We automatically update your company data through local business registries, so you save time and trouble.
Our company has existed since 2017, and we are endorsed by all the largest banks and asset managers in Denmark. They know that safety is our number one priority, and that we will never compromise customer information. Our goal is simple: we want to be the best LEI provider in the world.
The founder of Global FinReg is David Silverman. David lives in Copenhagen with his Danish wife and the couple's two children. David has had a long career in the financial sector. He worked in New York during the financial crisis in 2008, and this is when the idea was first born: to start a business that could help alleviate the lack of transparency in the ownership structure of companies.
There are several reasons why it is not necessarily a good idea to choose the cheapest LEI provider. Some providers offer lower prices to attract new customers only to increase the price drastically at a later stage or sell your LEI code to other LEI providers. As such, it is important that you ensure that you don’t pay for a longer validity period with an LEI provider that winds up being dissolved or goes bankrupt, and that your LEI provider does not sell your information to a third party.
You must also ensure that your LEI provider is accredited with GLEIF and that the price includes all GLEIF fees and charges.
The answer is yes. Global FinReg is recommended by all the largest banks and asset managers in Denmark, because they know that security is our number one priority. We will never compromise or resell customer information. E-mail address, name and telephone number are used solely as a means of communication between you and Global FinReg, so that you may experience the best possible service.
You can read more about how your information is being used here.
An LEI code is an identification code associated with a company's CVR number. This means that the code cannot be moved from one company to another. If you have several companies, you must have a code for each company.
LEI is an abbreviation for ‘Legal Entity Identifier. An LEI code is a unique identification for legal entities that can be used globally. An LEI code makes it possible to see who is the entity and who owns the entity. This creates transparency and increases security.
Both terms can be used, but it is the term "LEI code" that is used most often in Denmark. "LEI number" is used most often in England, India and Australia.
All legal entities wishing to sell or buy securities must have an LEI code from January 3, 2018. The concept of legal personality includes all types of companies, associations, foundations and legends and more. Physical persons are identified with their national identification number and therefore don't need to have an LEI code.
An LEI code creates transparency and security in the financial markets, while at the same time making it easier to increase the monitoring of market abuse. It was originally the G20 countries that requested a system that could strengthen market surveillance. The LEI system makes it possible to identify which companies, funds, companies or the like are behind a trade in the financial markets.
You can quickly, easily and safely order an LEI code on our website via our form on this page:
If you need to get your LEI immediately, e.g., before the stock exchange closes, you can order through our ‘Express LEI Service.' We will handle the application for you, so you can get your LEI code right away.
Click here to request our Express LEI ServiceNo problem. With our Express LEI Service, you will receive your LEI code today if you order before 3PM. It's easy, fast and convenient.
Get Express LEI Service hereNormally it will be the subscriber who orders an LEI code, as a power of attorney document must be signed. However, anyone authorized to do so may order an LEI on behalf of any legal entity.
If you are a company, fund, association or other legal entity, you cannot buy or sell securities in the financial markets without an LEI code. A securities trader may not trade with companies that do not have an LEI code, which is why the trade will not be approved.
However, there is an exception for a sole proprietorship, which in most cases does not need an LEI code.
It usually takes 1-2 business days to get an LEI code. If you need to get your LEI code fast, you can use our Express LEI Service. We handle the entire process and can usually manage same-day delivery of your LEI code.
Get Express LEI Service hereYes you can. We just need some extra documents to be able to verify the association, the foundation or the company. The documentation must be able to confirm the name and address of the legal entity applying for the LEI code. Documentation in the form of articles of association, auditor-approved accounts, letters from public authorities, incorporation documents, etc. are required. If you are in doubt, you are very welcome to contact our customer service, and they will be happy to help you. Please click on the contact form above.
No, private individuals cannot obtain an LEI code. LEI codes are for identifying legal entities worldwide, which is why only companies, foundations, associations or the like need an LEI code.
An LEI code must be renewed once a year, as the data in the LEI register must be up-to-date, relevant and correct. If you want to avoid thinking about renewing your LEI code every year, you can choose between 3- or 5-year validity, and we will make sure to continuously update and validate your data for you. You will also save money for a longer subscription.
An LEI code is valid for one year from the date of issue. Since the LEI system must be able to increase security and transparency in the financial markets, it is necessary that all legal entities' LEI codes are renewed once a year.
Depending on whether you want to transfer an existing LEI to our platform, renew or create a new LEI code, you can see all prices below.
Prices for creating a new LEI:
1 year: EUR 77
3 years: EUR 65.50 Cost / Year - (196.5 Total Price)
5 years: EUR 61.70 Cost / Year - (308.5 Total Price)
Prices for renewing an LEI:
1 year: EUR 77
3 years: EUR 65.50 Cost / Year - (196.5 Total Price)
5 years: EUR 61.70 Cost / Year - (308.5 Total Price)
Moving/importing an LEI code to our platform
For free!
All prices exclude VAT, but include the GLEIF fee and unlimited data maintenance throughout the period. There are no hidden fees.
We are 100% Danish-owned and our official name is Global FinReg A / S. We offer the market's fastest and most reliable LEI service, with a user-friendly platform and a world class customer service. By using LEI.dk, you no longer have to think about updating your data, remember to renew your code in time, or find out about any new rules and laws regarding LEI codes. Our system automatically receives changes to your data from various business registries. This means that your data is always up to date. When your LEI code approaches expiration, we will remind you via email so you do not forget to renew it. If you have paid for a longer validity period, we will also confirm the renewal via email.
When the bank verifies an LEI code, it is done via GLEIF's website. GLEIF updates their database once a day, at 15.00 CET time. For example, if you have been issued an LEI today, it will be updated in the global database at GLEIF tomorrow at. 15.00 CET. This is usually the reason why the bank might say that an LEI code is not valid.
If you are a customer of LEI.dk (Global Finreg), you can see all your LEI codes on our main page, which you can find here You log in with the email address you provided when you created your account, and your password. If you have forgotten your password, you can easily reset it via your email address. From the dashboard you get all the information about your LEI code. You can also go to this website www.lei.codes, where you can search all companies with an LEI code.
It is mandatory for financial firms to report that their clients have a valid LEI code for every transaction. If your LEI code has expired, they can not allow you to trade. We are the only ones in the world to renew your LEI in seconds if your LEI is already registered on our platform. If your LEI is not registered with us, you can move your LEI to our platform. You can do this here
In most cases, when you are a customer of Global Finreg, you do not have to worry about changes to your corporate information. When you change the information in business registry, we automatically receive these changes and make sure to update your LEI code. If you do not have a business number, you must immediately send changes to our e-mail address together with the relevant documentation. We will then correct your data.
GLEIF is short for ‘Global Legal Entity Identifier Foundation’. GLEIF is a non-profit organization whose primary task is to create transparency in the financial markets. GLEIF is responsible for the LEI system, and on their website, www.GLEIF.org, you can find a database of all LEI codes issued. You can also find details on all companies that have an LEI code. GLEIF monitors all LEI issuers and is responsible for the operation and proper execution of the LEI system. Their head office is located in Basel, Switzerland.
LEI codes are issued by accredited Local Operating Units (LOU), which are GLEIF-approved organizations. LOUs have the mandate to create, modify and renew LEI codes. All registered LEI codes are stored in an open database at GLEIF.
Registration agents help companies and firms with their LEI codes, by analysing and validating their data. The registry agent, ensures that everything works and that the companies are set up and maintained correctly.
Yes, inside GLEIF's database is all the essential information about companies with an LEI code. It is precisely this information that creates transparency in the market, thereby increasing security around financial transactions. The LEI registry provides information such as LEI code, company name, corporate registration id, address, address of the head office and the country in which the company is registered, registration date, expiry date, ownership structure, etc.
No, only information about the company is published, such as the LEI number, the company's name, registration ID, address, address of the head office and the country in which the company is registered.
Since it is mandatory for all legal entities that trade in securities to have an LEI code, banks may require you to have a valid LEI code in order to complete a trade or other activity.
Yes, if you want to trade securities through your operating company. Otherwise an LEI code is not required.
Yes, if you want to trade securities through your holding company.
LEI is short for ‘Legal Entity Identifier’. In everyday speech, it is often referred to as an ‘LEI code, LEI number, or just LEI.'
There is no designation for pronouncing LEI in the dictionary, and it is often pronounced letter by letter "L-E-I".
The CEO of Global FinReg appears on 'The Laundry' podcast