With immediate effect each company listing on the Irish Stock Exchange ("ISE") is required to provide an LEI code as part of its approval submission. This handy flyer succinctly explains the purpose of an LEI code and the manner in which Walkers can assist you to obtain an LEI code.
What is an LEI code?
An LEI is a 20 digit alpha-numeric code that enables clear and unique identification of legal entities participating in financial transactions. The code is linked to a set of key reference information relating to the legal entity in question e.g. name and address.
Who issues the LEI code?
The ISE is one of a number of 'Local Operating Units' ("LOUs") for the purpose of issuing LEIs, and the full list of LEIs already assigned to issuers is available on the Global LEI Foundation ("GLEIF") website.
How can Walkers assist?
Walkers is a registered user of the ISE platform, ISEDirect, through which we apply for LEI codes on behalf of issuers. In order to apply for an LEI code we will typically request the following documentation:
- An executed ISE LEI authorisation letter (available upon request). This letter authorises Walkers to apply to the ISE for an LEI code on behalf of the company.
- A copy of the register of directors for the company.
- A copy of the certificate of incorporation, including any change of name certificates, if applicable.
- A proof of registered address/office for the company.
- Business register number, if applicable (this is typically on the certification of incorporation).
- If the LEI applicant is owned by another entity, provide the name of such owner together with financial statements for the consolidating group.
Upon receipt of the above items Walkers will lodge the LEI application with the ISE and, should you wish, will arrange payment of the LEI application fee on behalf of the company. The application will typically be processed within 7-10 working days.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.