Chevalier & Sciales | View firm profile
The Luxembourg Stock Exchange now requires all domestic and foreign issuers operating on the regulated market, the Bourse de Luxembourg, or its Euro MTF multilateral trading facility, to provide the exchange with their legal entity identifier codes. The exchange has called on foreign issuers to check the ongoing validity of their LEI codes with local operating units designated by different countries and to send them to the exchange by e-mail to [email protected].
Since January 1 this year, LEIs have been the exclusive identifiers for issuers whose home member state is Luxembourg as defined by the law of January 11, 2008 on transparency requirements for issuers. The requirement for foreign issuers to provide LEIs has been in force since September 15.
The changes stem from the issue by the European Commission of Delegated Regulation (EU) 2016/1437 of May 19, 2016, supplementing the 2004 EU directive (Directive 2004/109/EC) on harmonisation of transparency requirements regarding information about issuers of securities admitted to trading on a regulated market.
Luxembourg issuers may obtain an LEI through the LuxCSD self-registration service for LEIs on the Global Markets Entity Identifier portal, by an employee of the firm seeking the registration or of its corporate parent, or a service provider. They must provide information including the legal name of the entity, its registered address according to the documentation of incorporation, headquarters address, the entity’s status and its legal form. Listing in the GMEI utility Issued Database takes around three business days.
Issuers incorporated outside Luxembourg but that have elected the grand duchy as their home member state under the Transparency Directive should seek to obtain an LEI in their jurisdiction of incorporation.