Legal entity identifiers

A legal entity identifier (LEI) is a 20-character code used for all entities that enter into financial transactions. This initiative is endorsed by the Group of Twenty Finance Ministers and Central Bank Governors (G20) and administered by the Global LEI System as a public good.

Each entity may only receive one LEI and this identifier must be used for all LEI reporting in each jurisdiction where the LEI is required.

For more information, see the April 5, 2018 Ontario Securities Commission (OSC) news release, "OSC provides update on Legal Entity Identifier Requirement”.

Companies that require LEIs

All companies that offer over-the-counter (OTC) derivative transactions reportable under OSC Rule 91-507 Trade Repositories and Derivatives Data Reporting (the TR Rule) must have an LEI.

In addition, you need an LEI if you are a:

reporting agent
broker acting as an intermediary
clearing member
electronic trading venue
clearing house connected to a trade reported under the TR Rule

Operational divisions and branches are not eligible to receive an LEI and must use the LEI of their immediate parent company to comply with the TR rule.

Natural persons are not eligible to receive an LEI.

Registering for an LEI

The Ontario Securities Commission does not issue LEIs. You must apply to a local operating unit (LOU) that has been endorsed by the Global LEI System’s Regulatory Oversight Committee or has been accredited by the Global LEI Foundation (GLEIF). See the list of accredited LOUs.

If your company does not wish to apply for an LEI themselves, you may request another do so on your behalf but must notify the LOU that the entity has given such permission.

Required documents

Each LOU has its own process for issuing LEIs but generally, an applicant must supply the LOU with the:

official name of the entity
address of legal formation
address of the headquarters
name of the business registry
entity’s ID at that business registry where it was created, if applicable