Legal Entity Identifier (LEI)

 

Obligatory for investing business undertakings and legal entities

As from 3 January 2018, we shall be obliged to report all transactions to the regulators, stating a Legal Entity Identifier (LEI), in order to comply with the EU directive commonly referred to as MiFID II. The LEI is a worldwide unique code that identifies a business undertaking or legal entity. If you already have an LEI, then you need to take no action. If you do not have an LEI on 3 January 2018, then you will no longer be able to place orders.

 

How do I apply for an LEI?

Go the website of the  Dutch Chamber of Commerce  and apply for your LEI. Bear in mind that the Dutch Chamber of Commerce will charge a fee for issuing your LEI. It takes an average of 10 working days after receipt of your payment for you to receive your LEI by email. You do not need to inform us of your LEI. We shall retrieve it automatically from the Dutch Chamber of Commerce.

What can you do if you are not registered with the Dutch Chamber of Commerce?

If you trade on behalf of a legal entity that is not registered with the Dutch Chamber of Commerce, you can request an LEI from  GLEIF ’s website. ABN AMRO regrets that it is impossible to do this through a Dutch organisation.

 

More information

If you have any questions on LEI and how it will affect you, please speak to one of our advisers at telephone number +31 20-517 6566 (the lines are open Monday to Friday from 8.00am to 10.00pm, and on Saturday from 9.00am to 5.30pm).

FAQ - LEI

Why do corporate clients need an LEI?

As from 3 January 2018, ABN AMRO will be obliged to report all transactions to regulator AFM, stating a Legal Entity Identifier (LEI). The LEI is a worldwide unique code that identifies a business undertaking or a legal entity. The LEI enables the regulators to identify the contract parties to financial market transactions worldwide. This promotes transparency and safeguards the stability of the financial markets.

Must a foundation or a church for example also apply for an LEI?

Yes, all legal entities owning shares or derivatives, such as foundations, churches, trusts and informal associations, must apply for an LEI.

How can you, as a corporate client, apply for an LEI?

You can simply apply for an LEI on the website of the Dutch Chamber of Commerce .

What information does ABN AMRO pass on to the regulator?

ABN AMRO pairs all buy and sell investment orders with the LEI and passes this information on to the regulators.

Can you, as a corporate client, still trade after 3 January 2018 without an LEI?

No, the regulators take the view that if you want to execute investment transactions after 3 January 2018, you must have an LEI.

Can ABN AMRO apply for the LEI on your behalf?

No, ABN AMRO is not allowed to do that.

How much does the LEI cost?

You can find out the current cost of the LEI at kvk.nl/lei . As of 1 September 2017, the one-off registration fee for an LEI amounted to €65, excluding VAT. The year in which you apply for an LEI ends on 31 December. The fee for each subsequent year is €40, excluding VAT.

Must you renew your LEI?
According to the present rules, an LEI is valid indefinitely. So you will not need to renew your LEI each year. Please see the Conditions of Use (in Dutch) of the Legal Entity Identifier (LEI) register.
Must you inform ABN AMRO of your LEI number?

No, you do not need to inform ABN AMRO of your LEI number. We will extract the data on the LEI from the public LEI register and enter it in our records.

Do you want to know more about the LEI?

You will find more information on the LEI on the website of the Dutch Chamber of Commerce .