ISO 17442:2019
(Main)Financial services — Legal entity identifier (LEI)
Financial services — Legal entity identifier (LEI)
This document specifies the minimum elements of an unambiguous legal entity identifier (LEI) scheme to identify the legal entities relevant to any financial transaction. It is applicable to legal entities, which include, but are 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 includes governmental organizations, supranationals and individuals when acting in a business capacity[1], but excludes natural persons. The LEI is designed for automated processing. It can 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); — all entities under the purview of a financial regulator and their affiliates, subsidiaries and holding companies; — sole traders (as an example of individuals acting in a business capacity); — counterparties to financial transactions. [1] As stated by the LEI Regulatory Oversight Committee on 30 September 2015.
Services financiers — Schéma d'identifiant d'entité légale (IEL)
General Information
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Standards Content (Sample)
INTERNATIONAL ISO
STANDARD 17442
Second edition
2019-04
Financial services — Legal entity
identifier (LEI)
Services financiers — Schéma d'identifiant d'entité légale (IEL)
Reference number
ISO 17442:2019(E)
©
ISO 2019
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ISO 17442:2019(E)
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ii © ISO 2019 – All rights reserved
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ISO 17442:2019(E)
Contents Page
Foreword .iv
Introduction .v
1 Scope . 1
2 Normative references . 1
3 Terms and definitions . 1
4 Structure of the LEI . 2
5 Check digit pair . 2
5.1 General . 2
5.2 Calculating the check digit pair . 3
6 LEI data record . 3
Annex A (informative) LEI check digit pair calculation and verification examples .4
Bibliography . 6
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ISO 17442:2019(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.
The procedures used to develop this document and those intended for its further maintenance are
described in the ISO/IEC Directives, Part 1. In particular, the different approval criteria needed for the
different types of ISO documents should be noted. This document was drafted in accordance with the
editorial rules of the ISO/IEC Directives, Part 2 (see www .iso .org/directives).
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. Details of
any patent rights identified during the development of the document will be in the Introduction and/or
on the ISO list of patent declarations received (see www .iso .org/patents).
Any trade name used in this document is information given for the convenience of users and does not
constitute an endorsement.
For an explanation of the voluntary nature of standards, the meaning of ISO specific terms and
expressions related to conformity assessment, as well as information about ISO's adherence to the
World Trade Organization (WTO) principles in the Technical Barriers to Trade (TBT) see www .iso
.org/iso/foreword .html.
This document was prepared by Technical Committee ISO/TC 68, Financial services, Subcommittee SC 8,
Reference data for financial services.
This second edition cancels and replaces the first edition (ISO 17442:2012), which has been technically
revised.
The main changes to the previous edition are as follows:
— clarification that individuals acting in a business capacity are considered as legal entities for the
purposes of being assigned an LEI;
— clarification of the how alpha and numeric characters are used in LEI codes;
— clarification of the method for computing the check digit pair and verifying the correctness of an
LEI code;
— addition of the ISO 20275 (ELF) code as an attribute of the LEI data record.
Any feedback or questions on this document should be directed to the user’s national standards body. A
complete listing of these bodies can be found at www .iso .org/members .html.
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ISO 17442:2019(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 of 2008, 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 document 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 an LEI code that contains no embedded intelligence;
— defines an 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 an LEI scheme that is reliable and an LEI code that is persistent;
— defines an LEI scheme that is extensible and free from limitation on use and redistribution.
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INTERNATIONAL STANDARD ISO 17442:2019(E)
Financial services — Legal entity identifier (LEI)
1 Scope
This document specifies the minimum elements of an unambiguous legal entity identifier (LEI) scheme
to identify the legal entities relevant to any financial transaction.
It is applicable to legal entities, which include, but are 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 includes governmental
1)
organizations, supranationals and individuals when acting in a business capacity , but excludes natural
persons.
The LEI is designed for automated processing. It can also b
...
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