LEIs for Funds and Trusts
How to obtain a LEI for a Fund or a Trust.
Funds are regulated financial entities and require a Legal Entity Identifier (LEI) under various regulations such as AIFMD, MiFID II, the Dodd-Frank Act & SEC.
Likewise, a trust usually requires an LEI under MiFID II and EMIR.
Below, you can explore what the requirements are and determine if you need to apply for one. Please feel free to contact our LEI support team who will be able to provide further information.
Legal Entity Identifiers for
Funds & Trusts
A Legal Entity Identifier (LEI) is a 20 digit code that is unique to a legal entity and provides basic information about the entity such as name, address and entity type e.g Limited Company. We explore this further in our recent post What is the Legal Entity Identifier?
LEIs are required by any legal entity that is involved with financial transactions or operating within today’s financial system. This applies in particular with regard the EU and the US. There are a number of mandates currently in existence which state “no LEI, no trade” meaning both reporting parties and traders require an LEI such as Mifid II. To see a comprehensive outline of the regulatory use of the LEI please see our recent post on the matter.
Funds and Trusts are examples of legal entities which generally require an LEI for reporting and regulatory purposes. Pension Schemes and Pension Funds are also required to report an LEI under MiFID 2.
From March 1st, 2022 complex fund structures will be required to report the structure within their LEI under new guidance from LEI ROC. You can find out more about the new Fund LEI reporting requirements here.
LEIs for Funds
A fund is considered a Legal Entity and financial instrument which falls under the category of requiring an LEI. Regulatory requirements around fund administration and investment funds have been re-examined since the financial crisis a few years back.
The EU and US have introduced a litany of new transparency driven regulations such as the US Dodd-Frank Act Title IV, and the European Union Directive on Alternative Investment Fund Managers (AIFM). These aim to improve reporting practices and fund regulations, and ultimately transparency and visibility over the entire financial system. Luxembourg, a small country but being one of the largest fund administration centres in the world, has registered nearly 5% of the worlds LEIs in response to these regulations. These regulations were introduced not only for funds, but also other capital market activities such as securities trading with regulations such as CSDR, SFTR & SRD II. LEI fund registration activity mostly falls under the European Mifid 2 regulation.
The one thing all of these regulations have in common, is that they all require participating legal entities to have an LEI code.
“LEIs help businesses, financial institutions and policymakers to more easily link data sets, improving analysis and supporting better risk assessment. Being able to more easily build a complete picture of a business, by linking its data, could also help small businesses to access finance. We want to extend the mandatory use of LEIs to a wider range of transactions in the future. We will champion the LEI as a globally recognised and unique identifier for all businesses in the UK.”
— Bank of England
Stay Ahead of the Deadline
Avoid last-minute bottlenecks and client delays. Ensure your LEI is active and ready for submission under the new DORA requirements.
Key Features & Benefits
By using LEIs to streamline processes for connecting with internal and external data sources, banks could realise an estimated 14% reduction in client onboarding time. By reducing manual data lookups and enabling straight-through processing across external data sources KYC checks become more streamlined and efficient.
- LEI management portal
- Intuitive dashboard
- Reduced costs
- Recurring revenue
- Free API & full integration
- Volume discounts
- Dedicated support
- KYC & AML checks
How to get an LEI for a Pension
Scheme, Pension Fund, SSAS or Sipp
Complete form, select ‘Other’ under entity type.
Proceed to checkout and select your package.
Click the Register New
LEI button or here
Await for the LEI to be
validated.
How to get an LEI for a Pension
Scheme, Pension Fund, SSAS or Sipp
Click the Register New LEI button or here
Complete form, select ‘Other’ under entity type.
Proceed to checkout and select your package.
Await for the LEI to be validated.
You will receive confirmation via email and your LEI will be publish to the LEI index.
Multiple Billing Options
Our pricelist is valid for both new LEIs and renewals. LEIs require annual renewal, that is why we offer discounts for multi-year registrations. Customised billing flexible to your preferences:
Monthly invoices
Pay as you go
Multiple payment
forms accepted
Multi-year
discounts
Simple, Transparent Pricing
Choose the plan that fits your needs
LEI Express
Quickly and easily register a single LEI code for any company here-
LEI Registration
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GLEIF Fee Included
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ISO 17442 Compliant
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Card Payments Only
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Annual Renewal Reminders
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Email Support
Enterprise RAMP
Use the platform for managing bulk LEIs at scale while maintaining compliance to regulations-
Everything in LEI Express, plus:
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Online Dashboard Access
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Multi-Year Discounts
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Company Data Autofill
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Priority Customer Support
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Live Chat Support
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Dedicated Account Manager
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Document Sourcing For You
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LEI Monitoring & Maintenance
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3+ Flexible Billing Options
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Free Watchlist & Alerts Tool
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Invite Team Members
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Order Tracking
Enterprise RAMP+
Premium offer with dedicated support options and bespoke solutions, for highly regulated firms such as Funds, ManCos and Asset Managers-
Everything in Enterprise RAMP, plus:
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Fully Assisted Service
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Entity Mapping for Your Organisation
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Volume Partner Pricing Available
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Free LEI Certificates
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No Surcharges
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Phone Support
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Unlimited Free Bulk Transfers
