Challenge LEI Data
The centralized challenge facility made available by the Global Legal Entity Identifier Foundation (GLEIF) extends the ability to trigger updates of Legal Entity Identifier (LEI) data to all interested parties. Specifically, it offers an easy and convenient means to trigger the verification and, where required, speedy update of LEI records including related reference data.
This centralized online service, which is part of GLEIF’s data quality management program, further contributes to ensuring that the publicly available LEI data pool remains a unique source of standardized information on legal entities worldwide.
The LEI enables clear and unique identification of legal entities participating in financial transactions. It connects to a set of reference data such as the official name of a legal entity and its registered address.
The GLEIF data challenge facility provides any user of LEI data with the opportunity to substantiate doubts regarding the uniqueness of an LEI code, the referential integrity between LEI records, or the accuracy and completeness of the related reference data. It also allows the indication of possible duplicate entries or any lack of timely response to LEI related corporate actions.
The challenge facility currently allows challenges to LEI records which are reported based on the LEI-Common Data File format version 2.1. This means it is currently only possible to challenge Level 1 data on who is who included within an LEI record. The challenge facility will be enhanced to include the option to verify Level 2 data on who owns whom in 2019.
Once a challenge has been logged using the online form available on the GLEIF website, GLEIF immediately conveys the information to the relevant LEI issuing organization for follow-up. LEI issuing organizations act as the primary interface for legal entities that have registered, or wish to obtain, an LEI.
You may challenge one LEI data record at a time (you can challenge as many fields as needed within that record). Challenging several LEI data records means entering one additional challenge per record.
To submit a challenge with regard to a specific LEI, follow these steps:
- Type the relevant LEI code, or the name of the relevant legal entity, in the field entitled ‘Search in LEI Data Fields’ on this dedicated GLEIF website page: LEI Search 1.0.
- Hit ‘enter’.
- Click on the LEI record you are looking for. This will open a page including all reference data connected to this LEI.
- Click the ‘Challenge this record’ button to access the online form, which allows the challenge to be filed.
- The online form allows challengers to comment on each data field included in an LEI record, to identify a possible error or to indicate alternate information that should be present in the data field.
- The online form specifies the type of evidence that a challenger must provide to substantiate a claim that data included in the LEI record is not correct.
- Prior to submitting the completed online challenge form, the challenger must register a password protected user account providing the contact information (name and email address) required for follow up. The name and email address of the challenger will be communicated to the LEI issuing organization responsible for the maintenance of the LEI record that has been challenged.
Should the correctness of an LEI data record be called into question through the GLEIF challenge facility, it is the responsibility of the relevant LEI issuing organization to resolve the matter in dialog with the impacted legal entity. If required, and subject to further verification against an authoritative source, the LEI issuer will update the information related to an LEI record. The aim is to resolve a challenge within ten business days.
GLEIF encourages all users of LEI data to take advantage of this GLEIF service designed to further enhance the reliability and usability of the publicly available LEI data pool.
For further detailed information on the GLEIF challenge facility, refer to these ‘Questions and Answers’.