This page focuses on reporting & data quality for Legal Entity Identifiers (LEIs). You will learn how to validate inputs, maintain clean reference data, reconcile across systems, and monitor KPIs so filings pass first time and onboarding runs smoothly. Content is vendor‑neutral and complements regime‑specific pages (MiFID II, EMIR, SFTR).
Scope: where data quality matters
- Onboarding & KYC/KYB. Capture a valid LEI for legal‑entity clients; match registry names and numbers exactly.
- Transaction & trade reporting. Use the correct identifier type per role; ensure issuer and counterparty LEIs are valid on the report date.
- Securities financing. Maintain issuer LEIs for underlying securities used as collateral or loan; see SFTR and LEI.
- Reference data. Keep legal name, address, registry number, and parent relationships current and consistent.
Data quality dimensions
| Dimension | What it means for LEI data | Practical checks |
|---|---|---|
| Accuracy | Values match authoritative sources | Compare to registry data; validate check digits; verify status |
| Completeness | All required fields present | LEI, legal name, registry number, address, parent relationships/exemptions |
| Timeliness | Data is up‑to‑date on report/onboard date | Active status; last update/renewal date within period |
| Consistency | Same entity represented identically everywhere | Cross‑system reconciliation; naming conventions |
| Uniqueness | No duplicates or mismatched IDs | One LEI per entity; detect duplicates by registry number + name |
Validation gates (format → status → master data)
Figure — Run lightweight checks early: structure, status, then master‑data alignment.
- Format. Use
^[A-Z0-9]{18}[0-9]{2}$and ISO/IEC 7064 (MOD 97‑10). See LEI code format. - Status. Confirm Issued/Active on the relevant date; capture last update and next renewal.
- Master data. Match legal name, address, registry number; collect parent relationships or exemptions with evidence.
Reconciliation & exception handling
- Cross‑system recon. Compare CRM/onboarding vs reporting warehouse; resolve name/ID mismatches.
- Counterparty confirmations. Request LEI confirmation as part of standing data attestations.
- Exception queues. Route failed validations to operations with SLA and audit log.
- Evidence pack. Keep registry extracts, signatory proofs, and correspondence tied to the entity record.
Renewal hygiene & portfolio monitoring
LEI records require annual renewal to keep data current. Align renewal with compliance calendars, and monitor your LEIs as well as counterparties’ LEIs. For an overview of responsibilities, see Who issues LEIs and How to Get an LEI.
KPIs & dashboards
| KPI | Definition | Target |
|---|---|---|
| Active LEI rate | % of portfolio with Issued status | > 98% |
| On‑time renewal | % renewed before anniversary | > 95% |
| Issuer LEI coverage | % of ISINs used with known issuer LEI | ~100% for reportable sets |
| First‑time pass rate | % reports accepted without LEI‑related breaks | > 99% |
| Exception clearance SLA | % LEI exceptions cleared within SLA | > 95% in 2 business days |
Common pitfalls
- Executing for a legal‑entity client without a valid LEI.
- Relying on regex only; skipping status and master‑data checks.
- Allowing firm/venue/issuer LEIs to lapse near deadlines.
- Using LEIs for natural persons instead of national identifiers.
- Missing issuer LEIs for collateral or loaned securities under SFTR.
FAQ
What is the fastest way to validate an LEI?
Run format and check‑digit tests first, then confirm status and master‑data match against authoritative sources. Automate these checks in onboarding and reporting workflows.
How often should we review counterpart LEIs?
At onboarding and before reporting; then schedule periodic attestations or automated checks, with alerts for approaching expiry.
Where can I learn about official data‑quality programs?
GLEIF publishes criteria and reports under its data‑quality program. See the overview: GLEIF — Data Quality Program.