Why it’s important to fill in multiple contact details on your LEI application?
Since the Legal Entity Identifier (LEI) became mandatory in India, companies have assigned the responsibility of obtaining and renewing one to people in different roles. From this, a new challenge has emerged.
The employee filling in applications often uses their personal information and is later unreachable, whether on leave or due to a change in jobs.
This means that important notifications, like renewal reminders, additional information confirmations, and changes within the Global LEI System, will not reach the companies.
Which might cause major inconveniences like blocked trades, inability to make transfers with your bank, additional penalties, loss of trust in your partners’ eyes, and more.
LEI correct details best practice
- Fill in multiple contact details in your LEI applications
- Use multiple valid phone numbers so that we can remind you about the upcoming renewal date
- Use multiple email addresses so that we can notify you of any important regulatory changes
- Update your contact details if necessary by sending us an email at firstname.lastname@example.org