Corporate customers will need to acquire a LEI code for execution of financial instrument transactions
In order to increase the stability of financial markets, from 3 January 2018 onwards, all legal entities must have a valid Legal Identification Number (hereinafter referred to as the "LEI") to conclude transactions relating to financial instruments eligible for trading or being traded in trading venues of the European Economic Area . If a legal entity fails gaining a LEI code by that date, it will not be able to enter into transactions relating to financial instruments.
This requirement shall come into force in line with with MiFID II Directives (European Parliament and Council of Europe Directive on Markets in Financial Instruments) and MiFIR (Regulation of the European Parliament and of the Council on Markets in Financial Instruments). Šiaulių Bankas, as an intermediary, shall verify if the legal entity has a valid LEI code prior to the conclusion of the transaction.
What is LEI?
Legal Entity Identifier (LEI) means a 20-character alphanumeric code identifying key information that enables companies in the global financial markets to be clearly identified.
How to apply for a code?
LEI codes are issued by entities accredited to the Global Legal Entity Identifier Foundation (GLEIF). Their list is available on GLEIF website www.gleif.org. All information and necessary documents are processed on-line. This code is subject to a one-time initial fee and an annual maintenance fee.
Upon receipt of the LEI code, the clients are kindly asked to notify Šiaulių Bankas with regard by sending e-mail to firstname.lastname@example.org.
In case of any queries or for more information, do not hesitate to contact us by tel. 1813 (+370 37 301 337 when calling from abroad).