The entities are obliged to identify themselves by the Legal Entity Identifier code (LEI) at issuance of book-entry securities and at execution and reporting of certain financial transactions. The LEI code ensures unique identification of entities worldwide and high quality of referential data. In the Slovak Republic the LEI codes are assigned by Centrálny depozitár cenných papierov SR, a.s. (CDCP).
To ensure that entity with allocated LEI code is credible, its LEI code should be valid. In case the LEI code is expired, banks shall not allow the client to make required transaction. Thus it is necessary to renew the LEI code. Also the National Bank of Slovakia advised the capital market participants on this obligation during the debate with the market in November 2018.
CDCP recommends the clients to request for regular renewal of the LEI code before its expiration. CDCP shall advice the client on cessation of code validity by sending an instruction for renewal of the code to the e-mail address, given by the client, 6 weeks before expiration of the LEI code.
CDCP enables to the entities to maintain the LEI code on-line at web site of CDCP. The entity can renew validity of allocated LEI code via account on web site of CDCP dedicated to LEI code. Request for renewal of the LEI code can be submitted only by person whose data were specified in the application for LEI assignment. Electronic form for LEI renewal will open after the requesting person logs into the LEI application via web site of CDCP. When entity selects relevant option in the LEI application, following start page of the request for LEI renewal opens:
The request for LEI renewal includes also approval of actual data on LEI entity and possibility to update the data. CDCP still keeps the fee for allocation and renewal of the LEI code on the same level.
(Authors: Kalina, Závodná)