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Legal Entity Identifier (LEI)

 

Obligatory for investing business undertakings and legal entities

In order to comply with the EU directive commonly referred to as MiFID II we are obliged to report all transactions to the regulators, stating a Legal Entity Identifier (LEI). The LEI is a worldwide unique code that identifies a business undertaking or legal entity. 

 

Are you registered with the Dutch Chamber of Commerce?

Go the website of the  Dutch Chamber of Commerce  and apply for your LEI. Bear in mind that the Dutch Chamber of Commerce will charge a fee for issuing your LEI. Your advisor will ask you to send your LEI-code when you open an investment account.

What can you do if you are not registered with the Dutch Chamber of Commerce?

If you trade on behalf of a legal entity that is not registered with the Dutch Chamber of Commerce, you can request an LEI from  GLEIF ’s website.

Frequently asked questions about the LEI

Must a foundation or a church for example also apply for a LEI?

Yes, all legal entities, such as foundations, churches, trusts and informal associations, owning shares or derivatives, must have a LEI.

What information does ABN AMRO pass on to the regulator?

ABN AMRO pairs all buy and sell investment orders with the LEI and passes this information on to the regulators.

Can you, as a corporate client, still trade without an LEI?

No, the regulators take the view that if you want to execute investment transactions, you must have an LEI.

Can ABN AMRO apply for the LEI on your behalf?

No, ABN AMRO is not allowed to do that.

How much does the LEI cost?

You can find out the current cost of the LEI at www.kvk.nl/en/lei/more-about/ .

Must you renew your LEI?

According to the present rules, an LEI is valid indefinitely. So you will not need to renew your LEI each year. 

Must you inform ABN AMRO of your LEI?

Yes, your advisor wil ask your LEI number when you open an investment account.

Do you want to know more about the LEI?

You will find more information on the LEI on the website of the Dutch Chamber of Commerce .