LEI registration on behalf of other legal entities
For anyone seeking the means to facilitate the LEI registration process of others, NordLEI supports what is commonly referred to as an assisted registration process. The service thereby allows for LEI registration on behalf of third parties. Such circumstances include, but are not limited to:
- A parent company applying for LEIs on behalf of its subsidiaries
- A fund company applying for LEIs on behalf of its funds
- A financial institution seeking to facilitate its end-clients LEI registration process, and therefore perform the registration on behalf of its client under a power of attorney.
All of the above situations can be further simplified from an operational point of view, by using the NordLEI service for bulk registration. Through the service, clients are allowed an easy upload of multiple legal entities' data using excel templates for simultaneous processing, hence avoiding time consuming one-by-one web portal registrations.
In order for NordLEI to accept assisted registrations, clients are obliged to provide NordLEI any relevant documentation (e.g. signed power of attorneys, etc.) on request. Furthermore, as part of the registration forms (as well as the bulk registration Excel templates) on the NordLEI web portal, registrants are requested to indicate if a LEI registration is on behalf of others, thereby committing to the mentioned provision of documentation. NordLEI accepts such approving documentation issued by the party for which a LEI registration is intended, in any of the languages spoken in the NordLEI home markets in addition to English.
One important aspect of the NordLEI Assisted registration service is that it distinguishes between the registrant and the final beneficiary of the registration, hence ensuring any future communication and order handling is directed to the registrant (where preferred).