Legal Entity Identifier Codes – have you got yours yet?

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On 13 October 2017 the London Stock Exchange issued AIM Notice 47 which requires all AIM companies with securities admitted to trading on AIM to have a Legal Entity Identifier (LEI) code.

This is to ensure compliance with the Markets in Financial Instrument Directive and the Market Abuse Regulation which require operators such as the London Stock Exchange to collate LEI codes for each issuer admitted to trading.

The LEI is a unique 20-digit alpha-numeric code based on the ISO 17442 standard which connects to key reference information of the issuer that enables clear and unique identification of legal entities participating in financial transactions. All main market companies have had to comply with the requirement to register for an LEI since 2013 and so should already have one.

AIM companies can obtain an LEI from the London Stock Exchange by following a link on their website Legal Entity Identifier (LEI) | London Stock Exchange Group. If an existing AIM company has not registered for an LEI it must do so by 30 November 2017.

In addition, the AIM application form for admission of new securities to trading to AIM has been amended to require an LEI. The amended form should be used by all AIM companies and prospective applicants seeking admission to trading on AIM.