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UK EMIR LEI requirements require counterparties to derivative contracts to be identified by a valid LEI in applicable reports submitted to trade repositories.. Under the validation rules from 30 September 2024, the LEI status must be Issued, Pending Transfer or Pending Archival.
UK EMIR is the onshored UK derivatives reporting regime, supervised by the FCA. Both counterparties report the same derivative transaction, each identified by its LEI for derivative reporting purposes.
For certain action types, the LEI of Counterparty 1 and the entity responsible for reporting must be Issued, Pending Transfer or Pending Archival. A lapsed LEI may still be accepted in limited cases, depending on the counterparty role.
Any UK entity that is a counterparty to a derivative, plus their report-submitting agents.
Keep your LEI current; TNV-LEI's reminders prevent the lapse that causes most rejections.
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Fast-Track LEI issuance in 2 to 4 UK working hours is available subject to data completeness, applicant authority and successful compliance validation. Transfers from another GLEIF-accredited LOU are free.
Issued, Pending Transfer or Pending Archival for the relevant fields, per the 30 September 2024 validation rules.
Both counterparties, each with a valid LEI.
To an FCA-registered UK trade repository.
Only in limited situations. For certain action types, Counterparty 1 and the entity responsible for reporting must have an LEI with Issued, Pending Transfer or Pending Archival status. Keeping the LEI active is the safer approach for ongoing reporting.