SEBI introduces the Legal Entity Identifier (LEI) System – The Securities and Exchange Board of India (SEBI) launched the Legal Entity Identifier (LEI) system for issuers that listed or are planning to list non-convertible securities, securitized debt instruments, and security receipts. The Legal Entity Identifier (LEI) system is a unique global identifier for legal entities participating in financial transactions.
- It aims to create a global reference data system that will help in uniquely identifying every legal entity that is a party to a financial transaction.
- The LEI code will be a 20-character code which will identify legally distinct entities that engage in financial transactions.
Legal Entity Identifier India Ltd
- It is a subsidiary of the Clearing Corporation of India Ltd.
- It has been authorized to issue and manage LEI codes in the country.
- The Global Legal Entity Identifier Foundation (GLEIF) allows the local operating unit in India the issuance and management of the LEI code.