Press Release (ePRNews.com) - RIGA, Latvia - Jan 09, 2020 - Today’s global economy is something that most take for granted. Yet, behind the scenes, there is all manner of expertise that makes its efficient operation possible. Legal Entity Identifier (LEI) codes, for instance, are one of the advances that have helped the financial industry to assess and address risks in the wake of the financial crisis of 2008. But who are the experts issuing and managing these codes? With more than 80,000 clients in 223 countries, GetLEI™, operated by EnVers Group, is blazing the trail in this ultra-specialized niche.
GetLEI is an official and verified Registration Agent by the Global Legal Entity Identifier Foundation (GLEIF). As such, it provides comprehensive services related to LEI issuing, including new registration, renewal of expiring codes and transfer of codes. GetLEI clients can even use its management platform to resell LEIs anywhere in the world.
To put more definition to it, an LEI is a unique global identifier of legal entities participating in financial transactions. All financial companies and funds are required to have one and it is used in reporting to financial regulators. A large financial institution may have its own LEI as well as an LEI for each of its legal entities involved in buying or selling stocks and bonds or making other transactions. The 20-character LEI code connects to key reference information that enables the identification of legal entities participating in financial transactions. Each LEI contains information about an entity’s ownership structure to show ‘who’s who’ and ‘who owns who’.
“We are an established tech company with 15 years of experience and we were fortunate to get into the LEI code issuing and management field early on. LEI codes are a game-changer in the global commerce arena and we take our role very seriously. Without them, regulators would not be able to readily monitor threats to financial stability and companies would not be able to manage their internal risk and reporting efficiently,” said Vladislavs Dovoreckis, CEO, Envers Group. “We are proud of the behind the scenes role we play in helping the global economy tick safely and effectively and we take great pride in making the entire process simple and affordable for our valued clients.”
Some of the services GetLEI™ provides are:
- LEI Registration/Renewal – Processing times are typically a few hours and available in 249 jurisdictions
- LEI Transfer – Administration of a client’s LEI code and the transfer from the previous provider
- LEI Lookup – Identification of any international company participating in financial transactions
- LEI Reselling – Partnership opportunities for reselling
- LEI Enterprise Solutions – Management, entity cross-check and automation to monitor related entities on behalf of enterprises, banks and government entities
For more information about LEI codes and GetLEI, go to getlei.com.
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