An update on Legal Entity Identifiers

Published by Kathryn Rushton on

We have now processed Legal Entity Identifiers (LEIs) on behalf of those SSAS and FURBS clients who requested that we do so in response to our September blog on this topic.

At the time of writing, we are waiting for the LEIs to be confirmed back to us and expect this mid to late December. Once we have your LEI we will send this on to you so that you can provide it to your investment provider(s).   

We are still able to submit requests manually if you require an LEI and have not applied for one, though please note that if you start the process of applying for an LEI yourself and then ask us to complete the process, you will need to delete your draft application as we will need to start afresh.

A common query that we have had is whether a one member SSAS still needs to obtain an LEI. We believe that they do and have seen nothing that would contradict this. A SSAS has potential beneficiaries and also potential future members whereas a SIPP arrangement will only ever have one member. 

If you would still like Barnett Waddingham to obtain an LEI for your SSAS or FURBS but have not yet returned your authorisation form, please email it to lei@bwssas.co.uk as soon as possible (or request a copy of the authorisation form). We can deal with LEI registrations on an individual basis on receipt but cannot guarantee that the scheme will have its LEI by the deadline of 3 January 2018.

If your scheme already has an LEI, please let your usual Client Manager have a note of the unique identifier as soon as you receive it.