What is an LEI number and where do I apply for one?

Any legal entity that uses a regulated exchange to invest in financial instruments (such as shares, bonds, collective investment schemes and derivatives) needs a unique code called a Legal Entity Identifier (LEI). This code is used to identify the legal entity when it makes a transaction.

The LEI initiative is designed to create a global reference data system. It uniquely identifies every legal entity or structure, in any jurisdiction, that is party to a financial transaction.

Some examples of legal entities are:

  • Trusts (with the exception of Bare Trusts)
  • Companies (Public and Private)
  • Pension Funds (with the exception of SIPPs)
  • Charities and Unincorporated Bodies

If you’re the nominated contact for a Dealing account which is part of a Small Self-Administered Scheme (SSAS), a Limited Company Dealing Account or an account for a Charity, you need to provide us with an LEI, if you want to trade in financial instruments. If you don’t have one, you will still be able to trade in funds such as Unit Trusts and OEICS.

When you’re opening the new Dealing account, you’ll need to let us know if you have an LEI on your application form.

If you don't have an LEI already, you can obtain an LEI, for a fee, from an authorised Local Operating Unit. The UK Local Operating Unit is the London Stock Exchange (LSE), which charges an application fee of £65 + VAT. You’ll need to renew your LEI every year – which, from the LSE, will cost you £50 + VAT.

If you are the nominated contact for a SSAS, you can apply for an LEI yourself (or via your scheme administrator) by visiting www.lseg.com/LEI. You need to make sure you register the LEI for the SSAS – not for the employer or yourself. You only need one LEI per SSAS. For Limited Company Dealing Accounts and Charity Accounts the application should be in the company or charity name.

Once you’ve received your LEI (or if you’ve already obtained one), please send it to us by email at help@ajbell.co.uk. Alternatively, you can send us a letter. Either way, remember to quote your AJ Bell account number for your account.

Learn more about LEI codes and how to complete an LEI application form.