Companies and entities must have LEI codes for orders concerning financial instruments

From 3 January 2018, companies and entities must have an LEI code to be able to give investment service providers orders concerning publicly traded financial instruments. For orders concerning derivatives, using an LEI code will become obligatory as early as 1 November 2017.

Publicly traded financial instruments that require using an LEI code starting from 3 January 2018 include listed shares, bonds and exchange-traded fund (ETF) units.

You do not need to have an LEI code to own financial instruments but to give orders for things like the buying and selling of them.

The code is necessary for not only companies but for all entities giving orders, including associations and foundations. The Finnish Patent and Registration Office (PRH) issues LEI codes on application to entities with Business IDs, excluding branches.

What is an LEI code?

An LEI (Legal Entity Identifier) is a global organisational code that helps entities trading on the financial market to identify each other. Private persons are not eligible for LEI codes. A company or an entity may only have a single LEI code.

The requirement to use LEI codes is based on EU legislation. See the website of the Finnish Financial Supervisory Authority for more information about the legislation:

How to apply for an LEI code at the PRH

Apply for an LEI code by filling in and submitting the application form. We will send you an invoice for the application fee (110 euros and an invoicing charge of 6.50 euros + VAT 24 %) after issuing the code. The fee includes the processing of the application and the registration fee for the first year.

We will not send a separate decision on the issuance of the LEI code. Once we have processed the application and issued the LEI, you will be able to see it in the company search at ytj.fi, which is jointly provided by the PRH and the Finnish Tax Administration.

Read more and file your application.

For more information, please contact:

Trade Register’s Advisory Service, tel. +358 (0)29 509 5900, Mon - Fri 9.00 - 16.15

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Latest update 19.09.2017