Working together to uphold high data quality standards
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.
The GLEIF Data Challenge Facility provides any user of LEI data with the opportunity to substantiate doubts regarding 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 GLEIF Data Challenge Facility supports challenging relationship information shown on LEI Search 2.0. By exploring the LEI Reference Data of a specific LEI record, the user is able to request a data change on the declared direct and ultimate parent relationships and exceptions.
One LEI data record may be challenged at a time (as many fields as needed within that record may be challenged). Challenging several LEI data records requires the entry of one challenge per record.
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.
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 LEI issuer aims 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.
- What is an LEI data challenge?
A challenge is any doubt regarding the referential integrity between LEI records, or the accuracy and completeness of the related legal entity reference data. It also allows the indication of possible duplicate entries or any lack of timely response to LEI related corporate actions. This includes challenges on relationship information shown on LEI Search 2.0.
All interested parties can raise a challenge against the LEI data record for any LEI. New data can be suggested that is considered more accurate, or (if the correct data is not known, for example) comments can be provided highlighting why a data field should be updated.
The LEI record itself may also be challenged in regard to its LEI code:
- Exclusivity (one entity has more than one LEI code).
- Eligibility (the legal construct is not eligible for an LEI as it does not meet the criteria as defined within the ISO 17442 standard).
- Why wasn’t my challenge submitted?
All challenges are automatically checked for data errors that would cause the Legal Entity Identifier (LEI) data record to be excluded from the Global LEI Index if the proposed changes were accepted by the LEI issuer.
Further checks to ensure that proposed data changes are not contradictory may also prevent a challenge from being submitted. Please follow the on-screen hints and tips while entering a challenge to avoid this.
Please check that the Captcha task is also completed (intended to prevent automated challenge entry).
- What evidence do I need to submit with my challenge?
The exact type of evidence needed for each challenge will vary depending on the specific field(s) challenged.
Evidence can be submitted in the following formats:
- File upload.
- Text, including links to information of files online (URL), or a free-text explanation or reference.
- What happens once I have submitted a challenge?
The Legal Entity Identifier (LEI) issuing organization which manages the challenged LEI data will receive your challenge.
You will receive a summary and confirmation of your challenge via email.
- How do I communicate with an LEI issuer about a challenge that is still open?
The LEI issuer who manages the challenged LEI data will receive your challenge.
The LEI issuer will research the challenge, and consult (where necessary) with the legal entity in question. At this point you will have the opportunity to contact the LEI issuer via email with any concerns you may still have.
The LEI issuer will contact you with details of the evaluation result.
Relevant Files for Download
Download as PDF: Challenge LEI Data User Guide v1.0