What the hell is LEI? Stephan Wolf explains.
What the hell is LEI? LEI stands for Legal Entity Identifier, a worldwide open and free database system where you have access to basic information about a company by means of an LEI-number. You can compare it with the Chamber of Commerce register. With this number, you can find information about the company, like the name, its legal form, and the address of HQ. You also have insights about the direct- and ultimate parents of the entity. When you type for example my company name or LEI-number, you will find basic information. Moreover, you know the direct- or ultimate parents of Unilever and Apple! There are already 1.5 million organizations registered on the LEI system and it’s a brilliant identity system that reduces financial risks. How is LEI arisen (Dutch video) and is it also useful for other applications?
Click on the link to watch the video: https://www.youtube.com/watch?v=lEM0SqSsRjs&feature=youtu.be