LEI Renewal - Additional Information
How to renew an LEI
Enter your Entity name or current LEI number
Select your entity from the dropdown menu. If it does not appear click "MANUAL ENTRY"
Choose your package options, and for how many years you would like to renew the LEI, then proceed to payment and checkout
Your application is complete and in 99% of cases you will receive a renewal LEI notification within the hour
What happens if I do not renew my LEI
LEIs require annual renewal under most regulations requiring an LEI such as MiFID II and EMiR.
Much like your car insurance, the LEI needs to be renewed to keep it up to date for data quality purposes.
If the LEI is allowed to expire it will become LAPSED. Once an LEI is renewed it will show as ACTIVE again.
A LAPSED LEI may have legal repercussions and the owner of the LEI can face financial penalties.
Investment service providers and Banks will often be requested for their clients LEI numbers. If these LEI numbers are not valid, they may face face penalties, or a no trade ruling.
Many financial institutions, banks, state bodies and semi-state bodies support the LEI initiative and have a mandate that all clients and customers must have an active LEI (Legal Entity identifier). To avoid complications with your banking institution or regulatory body we recommend maintaining an active LEI code.
How much does an LEI renewal cost?
What is included in the LEI renewal price?
- RAMP LEI Management System
- Free transfer; Process handled internally
- Confirmation package and annual renewal reminders
- GLEIF fee included
- Necessary searches conducted against your LEI
- Company Listed on Global LEI Index
- Free & unlimited updates to LEI
- Priority support
- LEI monitoring & maintenance
- Multi-user access
- Fast 24/7 LEI renewals & issuance
- Full global coverage
Choose a payment method which suits your requirements. Our payments system is fully integrated with Stripe payment API. This supports card payment with an invoice option for wire transfer. Please note; to avoid any delays with your order, or if it is an urgent requirement, select the card method to avoid any unnecessary delays.
Can I renew any LEI, or just the ones under my management?
Yes, you may renew any LEI however with certain requirements. If a partner entity, or client entity has an LEI that is due to be renewed you may take this responsibility. In order to do so you will be requested to provide an LoA (letter of authorisation) signed by the company authorised person. Upon receipt we may have this LEI renewed.
What is the difference between an LEI renewal and an LEI transfer?
An LEI renewal is the act of updating your LEI on an annual basis. An LEI renewal is required in order to remain compliant with a litany of global regulations and requirements.
An LEI transfer is the act of moving an LEI from one provider to another. This may be for a number of reasons including personal preference, pricing, or in order to consolidate a large portfolio of LEIs scattered across providers.
It is advised to renew an LEI upon the act of a transfer, as the entity data within the LEI may not be fully accurate depending on the data quality standards of the provider from which the lEI is originating. However, it is not required.
In order to transfer an LEI, please click the LEI Transfer toggle above and follow the steps.
How many years should I renew my LEI for?
In an effort to reduce the annual task of renewing an LEI, we have introduced the multi-year LEI concept to our services. This allows you to register an LEI for up to 5 years. In many cases, and entity may only require an LEI for one year. However, in the case of an entity with a longer lifespan it is advised to register your LEI for up to 5 years.
Please note, the LEI renewal date will never show less than 1 year. This is because the LEI is required to be renewed every year. However, by choosing the 5 year, our system will trigger a renewal 60 days prior to the annual renewal date annually for the duration of the 5 years.
Can I reactivate an LEI once it has Lapsed?
Yes, once an LEI has expired its status will change from ACTIVE, to LAPSED. An LEI should never show as lapsed as this indicates a lack of internal controls and governance around LEIs. If an entity is no longer trading it can be manually marked as ‘retired’.
Once an LEI has lapsed, in order to reactivate it you can simply renew the LEI as normal and the status will revert to it original state.
Want to renew multiple LEIs at once?
In order to renew more than one LEI at a time please use the Bulk LEI Purchase option.
How does the bulk LEI order process work?
If you require multiple LEIs at once, it is faster and more convenient to use the bulk LEI purchase method. Ordering in bulk also carries a discount based on the volume of LEIs in questions. The pricing structure is above.
- Please login, or enter your guest checkout details.
- Choose the number of LEIs you wish to order up front.
- Click ‘Confirm & Continue’ and your discount will be applied. You will then be requested to submit payment.
- Once payment has been completed you will receive a bulk order .xlsx document for completion. Please fill out all fields and return.
What is a bulk LEI purchase?
An LEI bulk order application is the process of applying for more than one new LEIs or LEI renewals simultaneously in order to achieve the following:
- Align annual renewal dates.
- Ensure this is a one step process for unlimited number of LEIs.
- Avoid multiple repetitive manual applications.
- Keep all LEIs in the one easy to manage dashboard.
- Ensure updating/registering LEI numbers is a one time task.
Why is the limit 20 bulk orders?
The online bulk order is limited to 20 to avoid any issues with card payments. For any orders above 20 LEIs please contact firstname.lastname@example.org for a manual wire transfer payment method and an invoice will be raised.
How to complete a free bulk transfer of LEIs into your account?
You can easily transfer unlimited number of LEIs into your LEI Worldwide account using the LEI Bulk Transfer method outlined in the LEI Transfer toggle above.
You will be required to complete a bulk order form for transfers, which is similar to the new/renewal bulk application form.
Need help with an order? Or have an order for over 20 LEIs?