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Published date: 20 December 2017

ESMA statement to support the smooth introduction of the LEI requirements (ESMA70-145-401)


The obligation for EU investment firms to identify their clients (that are legal persons) with the LEI is enshrined in MiFIR. An investment firm shall not provide any service triggering the obligation to submit a transaction report for a transaction entered into on behalf of a client who is eligible for the LEI code, prior to obtaining the LEI code from that client.

Trading venues equally are obliged to identify each issuer of a financial instrument traded on their systems with an LEI code when making daily data submission to the Financial Instruments Reference data System (FIRDS).

These requirements have an impact on all clients of EU investment firms and any entity issuing financial instrument traded on European trading venues. The EU investment firms and EU trading venues are obliged to report the LEI codes of these entities regardless of where the clients or issuers are based and regardless of whether they are subject to LEI requirements in their own jurisdiction.

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