ISO 17442:2012
(Main)Financial services — Legal Entity Identifier (LEI)
Financial services — Legal Entity Identifier (LEI)
ISO 17442:2012 specifies the elements of an unambiguous legal entity identifier (LEI) scheme to identify the legal entities relevant to any financial transaction.
Services financiers — Schéma d'identifiant d'entité légale (IEL)
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Standards Content (Sample)
INTERNATIONAL ISO
STANDARD 17442
First edition
2012-06-01
Financial services — Legal Entity
Identifier (LEI)
Services financiers — Schéma d’identifiant d’entité légale (IEL)
Reference number
ISO 17442:2012(E)
©
ISO 2012
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ISO 17442:2012(E)
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ISO 17442:2012(E)
Foreword
ISO (the International Organization for Standardization) is a worldwide federation of national standards bodies
(ISO member bodies). The work of preparing International Standards is normally carried out through ISO
technical committees. Each member body interested in a subject for which a technical committee has been
established has the right to be represented on that committee. International organizations, governmental and
non-governmental, in liaison with ISO, also take part in the work. ISO collaborates closely with the International
Electrotechnical Commission (IEC) on all matters of electrotechnical standardization.
International Standards are drafted in accordance with the rules given in the ISO/IEC Directives, Part 2.
The main task of technical committees is to prepare International Standards. Draft International Standards
adopted by the technical committees are circulated to the member bodies for voting. Publication as an
International Standard requires approval by at least 75 % of the member bodies casting a vote.
Attention is drawn to the possibility that some of the elements of this document may be the subject of patent
rights. ISO shall not be held responsible for identifying any or all such patent rights.
ISO 17442 was prepared by Technical Committee ISO/TC 68, Financial services.
© ISO 2012 – All rights reserved iii
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ISO 17442:2012(E)
Introduction
Legal entity identification is an integrated and necessary component of financial services transactions. Entering
into business relationships requires “Know Your Customer” processes to be initiated and maintained for the
duration of these relationships and any longer term data retention requirements to be addressed. Parties
involved in financial transactions need to be identified within these transactions. Then the risk of each party
and the resulting concentration risk also need to be measured. All of this is to be achieved while the support
for straight through processing (STP) is maintained.
Following the global financial crisis, the need for regulators to identify legal entities, both nationally and across
the global markets, has been raised as a critical need. More specifically, regulators are asking for standards
to be used within the solutions they are developing to address the data collection and analysis needs resulting
from the crisis.
This International Standard fulfils the need for legal entity identification of the global financial services industry
and the regulatory community. Its key provisions are that it
— enables unique identification globally of entities requiring a legal entity identifier (LEI),
— defines a LEI code that contains no embedded intelligence,
— defines a LEI code that is interoperable with other standards and existing reference data and can be
applied globally to support the financial services industry,
— leverages the expertise of ISO/TC 68 in defining and maintaining identifier standards,
— defines a LEI scheme that is reliable and a LEI code that is persistent, and
— defines a LEI scheme that is extensible and free from limitation on use and redistribution.
iv © ISO 2012 – All rights reserved
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INTERNATIONAL STANDARD ISO 17442:2012(E)
Financial services — Legal Entity Identifier (LEI)
1 Scope
This International Standard specifies the elements of an unambiguous legal entity identifier (LEI) scheme to
identify the legal entities relevant to any financial transaction.
The term “legal entities” includes, but is not limited to, unique parties that are legally or financially responsible
for the performance of financial transactions or have the legal right in their jurisdiction to enter independently
into legal contracts, regardless of whether they are incorporated or constituted in some other way (e.g.
trust, partnership, contractual). It excludes natural persons, but includes governmental organizations and
supranationals.
The LEI is designed for automated processing. It may also be conveniently used in other media interchange
when appropriate (e.g. paper document exchange).
NOTE Examples of eligible legal entities include, without limitation:
— all financial intermediaries;
— banks and finance companies;
— all entities that issue equity, debt or other securities for other capital structures;
— all entities listed on an exchange;
— all entities that trade stock or debt, investment vehicles, including mutual funds, pension funds and alternative
investment vehicles constituted as corporate entities or collective investment agreements (including umbrella funds
as well as funds under an umbrella structure, hedge funds, private equity funds, etc.);
— all entities under the purview of a financial regulator and their aff
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