New Trustee client has received a letter from the LEI Register touting for business to keep its LEI registration upto date. I have never heard of the LEI. Is it new? Have I had my head so far in the sand that I've completely missed this? Anyone know what it is? Thanks.
Replies (9)
Please login or register to join the discussion.
I don't know. Its not a scam is it? I often get emails from the EU business register which is actually a scam to pay for a membership that does nothing and a very short window to cancel before your invoiced again for another year.
Scam. Ignore it.
An LEI is a real thing for trusts, but don't use one of these scam agents. Go direct instead to; https://www.gleif.org/en/about-lei/get-an-lei-find-lei-issuing-organizat...
Companies have their Companies House number, and people have their NI number, but as trusts have neither, they may need to obtain an LEI to do certain things.
To be clear, it is very likely the agency that wrote to the client is like one of those parasites who offer to file companies' confirmation statements or do land registry searched for £90.
If a legal Entity is a Company or Trust then to trade in securities (as in to buy or sell shares) the legal entity needs an LEI. However, there is a bit of a scam in saying it needs to be renewed. I think the FCA have confirmed that clients of stockbrokers that are not real people don't need to renew their LEIs.