Legal Entity Identifier (LEI)
Posted on: 28 August 2018 , by: Pepperstone Support , category: Secure Client Area
Please Note: This page has been updated on the 24th of September 2018 after ASIC extended the approaching deadline for providing an LEI.
In order to comply with ASIC Derivative Transaction Rules, Pepperstone is required to obtain a Legal Entity Identifier (LEI) from all legal entities (e.g. Companies, Trusts and Corporate Trusts) who trade with us.
To submit your LEI, log in to your Secure Client Area and click ‘Provide LEI’ at the top right of your screen.
Please ensure you provide your LEI by no later than the 22nd of March 2019 so that we can verify it before ASIC’s deadline.
Frequently Asked Questions
The Legal Entity Identifier (LEI) is a 20-character, alpha-numeric code, used to uniquely identify legally distinct entities that engage in financial transactions.
You can register for an LEI with a company accredited by the Global LEI Foundation (GLEIF). A list of accredited providers can be found on GLEIF's website, including Bloomberg and Australian-based APIR.
Once you’ve obtained your LEI, log in to your Secure Client Area and enter your LEI (look for the ‘Provide LEI’ button at the top right of your screen). No documentation is required.
Pepperstone will verify your LEI and will notify you once it has been accepted.
Under ASIC Derivative Transaction Rules, all over-the-counter (OTC) derivatives contracts are required to be reported to trade repositories under an LEI. This is to help improve transparency, mitigate systemic risk and prevent market abuse.
This is required of all ASIC regulated entities and we thank you for your cooperation.
If Pepperstone can’t verify an LEI on your account, we won’t, unfortunately, be able to accept any trades on your account.
If you have any open positions on a Company, Trust or Corporate Trust account without a verified LEI, they will need to be automatically closed out at 3:00 pm AEST 29th of March 2019 in order for us to comply with this requirement.